In my previous posting on Sequent Scientific , I mentioned about company's plans to issue further securities to the promoters . Now the company informed BSE that company has allotted 21,00,000 warrants at a price of Rs. 120.75 per warrant (including a premium of Rs. 110.75 per warrant) convertible into 21,00,000 equity shares of Rs. 10/- to the following Promoter Group entities:
Agnus Capital LLP - 10,50,000 warrants
Chayadeep Ventures LLP - 10,50,000 warrants
This will bring about 25.35 Cr to the company and hike promoter stake by 9 % to 64.5 %
This stock moved from an yearly low of Rs.50 and promoters this decision to subscribe warrants at the higher end of the price level is really a confidence boosting factor.
Company's latest Annual Report HERE
Link to the company website HERE
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