Evexia Lifecare shares gain as company approves funds raise via convertible warrants

Shares of Evexia Lifecare touched a new 52-week high as the company has informed exchanges about its new fundraising initiative. The counter opened in the green at Rs 3.76 on the BSE and went on to high a 52-week high of Rs 3.91. The company said that the board has approved the preferential issue of up to 24 crore convertible warrants. However, this is subject to to necessary approval of the members of the Company and other regulatory authorities.
The board has fixed to hold an Extra Ordinary General Meeting of the members of the company on Wednesday, October 23, 2024 to seek the approval of the shareholders of the company on this matter.
“To issue upto24,00,00,000 Convertible Warrants, of the company, at a price of Rs. 3.60/- per Warrant each convertible into, or exchangeable for, 1 (one) fully paid-up equity share of the Company having face value of Re.1/- (Rupee One Only) each at a premium of Rs. 2.60/- per share aggregating to not more than Rs.86,40,00,000 /- (RupeesEighty Six Crores Forty Lakhsonly) to the proposed allottees (as listed in Annexure 1 ) by way of preferential issue,” the company said in an exchange filing.
Meanwhile, domestic equity indices Sensex and Nifty scaled their new record high levels in early trade on Monday, helped by strong foreign fund inflows and rally in Asian markets. The 30-share BSE Sensex jumped 318.58 points to hit an all-time high of 84,862.89. The NSE Nifty surged 120.75 points to reach a new record high of 25,911.70.
From the 30 Sensex firms, Mahindra & Mahindra, Bharti Airtel, NTPC, State Bank of India, Kotak Mahindra Bank, Adani Ports, Tata Steel and Tata Motors were the biggest gainers. ICICI Bank, HCL Technologies, JSW Steel and ITC were among the laggards. Foreign Institutional Investors (FIIs) bought equities worth Rs 14,064.05 crore on Friday, according to exchange data.
(Disclaimer: The information provided in this article is for informational purposes only and should not be construed as investment advice. Readers are encouraged to consult with a qualified financial advisor before making any investment decisions.)