Shri vallabh pittie ventures private pvt ltd. - Latest News Update, Information, Photos & Videos on Shri vallabh pittie ventures private pvt ltd. at Lokmat Times

Pursuant to applicable provisions and regulations, SVP Global Ventures Ltd, one of the largest compact cotton yarn manufacturers in the world has announced it's intention to issue upto 2,23,80,952 Convertible Equity Warrants to it's parent company, Shri Vallabh Pittie Ventures Private Pvt Ltd. The aggregate value of the transaction will stand at Rs 235 Crs for cash and the allotment of warrants will be completed within 15-day period from the date of shareholders approval.The Warrant holder has the option to convert Equity warrants into equivalent number of fully paid up equity shares of face value of Rs 1/- each, in one or more tranches within 18 months from the date of allotment of warrant, at an issue price of Rs 105/- per Equity Share and is subject to interim adjustments by way of capitalisation of profits or reserves demerger, rights issue or any consolidation/reclassification activities.On the announcement of the Preferential Issue of Equity Warrants, Chirag Pittie, Director, SVP Global Ventures Ltd. stated "The Issue of Equity warrants and its conversion at 37 per cent premium over current market price would help in strengthening the capital structure of the company. The company is committed to deliver long-term sustainable growth to its stakeholders by continuous reduction in overall debt and expansion in high-margin compact yarn business."As on date, the Pre Issue Shareholding of the Promoter and Non Promoter stood at 68.71 per cent and 31.29 per cent respectively. Post issue the promoter and promoter group shareholding will be 73.41 per cent. The stock opened at Rs 79.85 and closed at Rs 76.90 per share and witnessed a weekly delivery quantity of approx. 9.5L sharesRecently, the company declared its Q3FY21 and 9 month ended results where it has reported a 210 per cent increase in its QoQ Consolidated PAT and 55 per cent increase in its EBIDTA QoQ; resultant of better operational efficiencies, better product mix and cost rationalisation efforts.Safe Harbor StatementStatements in this document relating to future status, events, or circumstances, including but not limited to statements about plans and objectives, the progress and results of research and development, potential project characteristics, project potential and target dates for project related issues are forward-looking statements based on estimates and the anticipated effects of future events on current and developing circumstances. Such statements are subject to numerous risks and uncertainties and are not necessarily predictive of future results. Actual results may differ materially from those anticipated in the forward-looking statements. The company assumes no obligation to update forward-looking statements to reflect actual results changed assumptions or other factors.This story is provided by PRNewswire. will not be responsible in any way for the content of this article. (/PRNewswire)( With inputs from ANI )Disclaimer: This post has been auto-published from an agency feed without any modifications to the text and has not been reviewed by an editor

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Shri Vallabh Pittie Ventures Private Pvt Ltd.FOLLOW

Shri vallabh pittie ventures private pvt ltd., Latest News

Business :SVP Global to raise Rs 235 Cr via Equity Warrants, convertible at 37% premium to market price

Pursuant to applicable provisions and regulations, SVP Global Ventures Ltd, one of the largest compact cotton yarn manufacturers in the world has announced it's intention to issue upto 2,23,80,952 Convertible Equity Warrants to it's parent company, S ...