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| Exchange Received Time 26/08/2019 10:47:55 Exchange Disseminated Time 26/08/2019 10:48:02 Time Taken 00:00:07 | Further to our letter dated August 21, 2019 and pursuant to Regulation 30 of SEBI (LODR) Regulations, 2015, we hereby inform that the Board of Directors at its meeting on August 26, 2019 has, subject to approvals of Members of the Company through Postal Ballot, considered and approved the proposal for issue and allotment of 2,02,936 Equity Shares at issue price of
Rs. 653.13/- per Share (Face Value of Re. 1/- & Premium of Rs. 652.13/-) for aggregate consideration of Rs.13,25,43,589.68/- on Preferential basis (i.e. issue of equity shares for consideration other than cash) to Mr. Vishal Gupta, ex-employee of MOPE Investment Advisors Private Limited ('MOPE'), subsidiary company.
The said issuance to Mr. Gupta will be in exchange of 1,274 equity shares of MOPE, 25 units of India Business Excellence Fund II and 1.38% partnership in India Realty Excellence Fund II LLP, held by him aggregating to Rs. 13,25,43,646/- as per Agreement executed between the Company, MOPE and Mr. Gupta. |
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