Stock market news: One Point One Solutions shares rise by more than 11 percent | View the most important details here
The price hike comes after the company informed the stock exchanges that its board of directors has approved the conversion of 2,00,001 warrants into an equal number of shares of the company.
Stock market news: Shares of One Point One Solutions rose more than 11 percent on Monday, i.e. January 1. The counter opened at Rs 50.40 and subsequently touched an intraday high of Rs 56.50. This is an increase of 11.33 percent compared to the previous closing price of 50.75.
The price hike comes after the company informed the stock exchanges that its board of directors has approved the conversion of 2,00,001 warrants into an equal number of shares of the company.
“In accordance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Regulations) Regulations, 2015 (“SEBI Listing Regulations”), we would like to inform you that members of the Board of Directors of the Company by a resolution passed on December 30 2023, has considered and approved the conversion of 2,00,001 (Two Lakh One) convertible warrants into 2,00,001 (Two Lakh One) equity shares of face value of Rs.2/- each, on preferential basis, upon receipt of an amount equal in total to
Rs. 42,48,021.24/- (Rupees Forty Two Lakh Forty Eight Thousand Twenty One and Twenty Four Paisa only) at the rate of Rs. 21.24 (Rupees Twenty-One and Paise Twenty-Four Only) per warrant (being 75% of the issue price per warrant) of the allottees by virtue of exercising their rights of conversion into ordinary shares in accordance with the provisions of SEBI (ICDR ) Regulations, 2018 and list of assignees along with names of warrant holders whose warrants are pending conversion are attached as Annexure-I,” the company said in an exchange filing.
Meanwhile, equity benchmark indices Sensex and Nifty started the year 2024 quietly, with the 30-share index closing with marginal gains after some buying in energy, services and telecom counters.
In highly volatile trading, the BSE index posted a modest gain of 31.68 points or 0.04 percent to stabilize at 72,271.94 after a quiet start. During the day, it reached a low of 72,031.23 and a high of 72,561.91, the highest intraday peak in the lifetime.
Disclaimer: The article is for information purposes only and not for investment advice.