Kemrock Industries and Exports Ltd: Outcome of Committee Meeting

Kemrock Industries and Exports Ltd has informed BSE that in respect of the issue of the Securities of the Company to QIBs under Qualified Institutions Placement in terms of Chapter VIII of the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2009, as amended, the "NCD Issue Committee" ("Committee"), duly authorized by the Board of Directors of the Company, has decided to close the issue on April 18, 2011) with immediate effect.

In this regard, details of the Securities proposed to be issued pursuant to the QIP and the relevant pricing details are as under:

1. 2500 12.5% Secured Redeemable Non-convertible Debentures (NCDs) of face value of Rs. 3,00,000/- (Rupees Three Lakhs only) each, aggregating to Rs. 75,00,00,000/- (Rupees Seventy Five Crores only); and

2. 12,50,000 Warrants at a Warrant Issue Price of Rs. 30.00 each, which entitles the holder thereof, upon payment of the Warrant Exercise Price of Rs. 600/- per warrant, to exchange each warrant with one equity share of the Company at a later date not exceeding 48 months from the date of its allotment.Read More