The board of directors of Riddhi Siddhi Gluco Biols yesterday approved a preferential issue of equity shares. According to a release issued by the BSE today, the company will allot 15,78,100 shares on a preferential basis to Roquette Freres of France and 5,27,900 shares to Yatish Trading an NBFC based at Mumbai.Each share has been priced at Rs 200, which includes a premium of Rs 190 per share, the release added.Further the board has also approved issuance of 5,85,000 warrants to Roquette (85,000) and Promoters (5,00,000) at Rs 200 per warrant convertible into equity shares of Rs 10 each at premium of Rs 190 within 18 months from the date of allotment.The company is likely to mop-up Rs 42.12 crore from the preferential issue and another Rs 11.70 crore from the issuance of warrants.The stock had yesterday hit the 5% upper limit when it closed at Rs 206. It has appreciated a whopping 55% in the last one-month.
