Ashapura Intimates Fashion Ltd, a BSE listed company manufacturing intimate and lounge wear, has a recent history of innovative projects to progress. Apart from its plan to expand by setting up a 2.5 lakh square feet integrated manufacturing unit in Vapi, Gujarat, it has approved the issuance of Warrants to new investors. the Board of Directors of Ashapura Intimates
Fashion Ltd, has approved that Bennett Coleman & Co. is the highest bidder with issuance of Warrants upto Rs. 16,25,00,000 (Rupees Sixteen Crore Twenty Five Lakhs Only). That’s about 50% of the Warrants up for grab, the rest going to other investors.
This base of preferential allotment entitles the holder of each Warrant to apply for and obtain allotment of equity shares against such Warrants, under the SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2009 and other applicable relevant laws at a price not less than as arrived in accordance with the provisions of Chapter VII of SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2009. AIFL is listed on BSE with market cap of Rs 500 crore and Momai Apparels Ltd is listed on NSE with market cap of Rs 118 crore.
