The board of Tilaknagar Industries has approved issuance of 65.97 lakh shares at a price of ₹72 a share for an amount aggregating to ₹47.50 crore to Kancharla Chandra Sheker Reddy, SS Spirits LLP and M&S Bottling Company Private Ltd, non-promoters, on a preferential basis.
The board also approved issuance of 52.08 lakh convertible warrants for at ₹72 a warrant for an amount aggregating to ₹37.50 crore to Amireddy Jaipal Reddy and SS Spirits LLP, non-Promoters, on a preferential basis.
The stock of Tilaknagar Industries closed 0.30 per cent at ₹70.40 on the BSE.