with a market valuation of 998.12 Cr, BCL Industries Ltd. is a small-cap business operating in the Fast Moving Consumer Goods (FMCG) industry. Since its inception in 1976, BCL Industries Ltd. Has grown into a well-developed industry player with operations in major industry segments such as rice sheller, solvent extraction, oil extraction, distillery-ethanol industry, and vegetable oil refining (physical and chemical). , BCL Industries on Thursday said its board has authorized a scheme to offer 55.8 lakh fully convertible warrants to promoters and public shareholders. 201 crores. Up to 55.83 Lakh Fully Convertible Warrants with face value 10 each to be issued and distributed by the firm for a total amount of Rs. 201 crores. Each warrant carries the right to subscribe for one equity share at the issue price 360.
The company said in a stock exchange filing that its board of directors has approved “to issue and allot 55,83,334 (fifty-five lakh eighty-three thousand three hundred and thirty-four only)” fully convertible warrants(‘) Considered and approved. Warrants’) of face value of Rs. 10/- each, holding an exercisable right by the warrant holder for subscription of one equity share per warrant to persons belonging to ‘Promoter and Promoter Group’ and ‘Non-Promoter, Public Category’ on a preferential basis at the issue price of Rs. Is. 360/- (Rupees Three Sixty Only) per Warrant, subject to shareholders’ approval and other statutory approvals, in accordance with the provisions of Chapter V of the SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018, as amended and of the Companies Act, 2013 in force provisions and the rules made thereunder, the aggregate amount up to Rs. 201,00,00,240/- (Rupees Two Hundred One Crore Two Hundred Forty Only) in cash.”
The total number of securities proposed to be issued or the aggregate amount for which the securities will be issued is up to 55,83,334 warrants of face value of Rs. 10/- to each person belonging to promoter and promoter group and non-promoter, public category.
Shares of BCL Industries Limited closed today on NSE 414.00 each level, up 1.10% from previous close 409.50. The stock recorded a total volume of 530,435 shares as compared to 20-day average volume of 311,253 shares. Based on the technical outlook of the stock, Ravi Singh, Vice President & Head of Research, Share India said, “BCL Industries is witnessing profit booking after touching higher levels of 420 in the recent past. Momentum indicators and MACD are still showing buying strength on the counter. The stock is trading well above its moving averages, indicating a bull run ahead. BCL Indus stock may touch the target of 440 in near term, taking support near 380 levels and resistance around 450 levels.
The stock has given multibagger return of 239.62% in last five years and 226% in last three years. The stock has appreciated 27.74% YTD in 2023 so far. The stock had touched a 52-week high 530.00 (23-Mar-2022) and 52-week low 278.65 at (15-Nov-2022).
Know your inner investor
Do you have guts of steel or are you a victim of insomnia regarding your investments? Let’s define your investment approach.
catch all business News, market news, breaking news events and breaking news Update on Live Mint. download mint news app To get daily market updates.