Shares of Vakrangee remain in emphasis today after the company claimed its board authorized the issuance of 35 crore exchangeable warrants using advantageous allocation to 11 non-promoter capitalists, elevating Rs 980 cr, based on investor authorization. Vakrangee shares shut 2.09% greater at Rs 32.78 on Friday versus the previous close of Rs 32.11 on BSE. A total amount of 46.55 lakh shares of the innovation business altered hands, totaling up to a turn over of Rs 15.73 crore on BSE. Market cap of the company stood at Rs 3533.15 crore.
The IT supply struck a 52-week low of Rs 18.45 on December 21, 2023 and a 52-week high of Rs 37.73 on Ocober 1, 2024.
In regards to technicals, the family member toughness index (RSI) of the supply stands at 70.5, signifying it’s trading neither in the overbought and neither in the oversold area. Vakrangee shares have a beta of 1.5, suggesting extremely high volatility in a year. Vakrangee shares are trading more than the 5 day, 10 day, 20 day, thirty days, 50 day, 100 day, 150 day and 200 day relocating standards.
“We thus educate you that the Board of Directors of Vakrangee Limited (the “Company”) at their conference held today i.e. Saturday, December 21, 2024 has actually authorized the following:
1. Preferential Allotment of Convertible Warrants to Non Promoter Category to provide and allocate upto 35,00,00,000 Convertible Warrants (“Warrants”) on a special basis to Non Promoters in the direction of elevating of added resources by the Company according to Section 42, 62 of the Companies Act, 2013 and based on Chapter V of the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirement) Regulations, 2018 (“SEBI ICDR Regulations”), as modified, and various other relevant legislations, at such rate as established based on Chapter V of the SEBI ICDR Regulations as modified, based on the authorization of governing/ legal authorities and the investors of the Company in its Extra Ordinary General Meeting.
2. Withdrawal of In- concept application for allocation of 20,00,00,000 exchangeable warrants to non-promoter classification authorized by the participants of the Company on October 27, 2024 submitted to BSE Limited and to National Stock Exchange of India Limited on September 27, 2024.
3. The Notice of Extra Ordinary General Meeting (“EGM”) of the Company arranged to be hung on Wednesday, January 15, 2025 at 11.30 a.m. via video clip conferencing or various other audiovisual ways, to look for required authorization of the investors of the Company for the Preferential Issue of exchangeable warrants,” claimedVakrangee
Vakrangee Limited is an innovation business concentrated on economic, social and electronic incorporation of its consumers. It operates an asset-light, franchisee-based service design to deal with the demands of its stakeholders. It aided electronic corner store, Next-Gen Vakrangee Kendras supplies options for numerous services and products.
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