Board approves new independent director, renewable energy WOS, warrant conversion
STYLEBAAZA · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
On the reaction day the stock moved 2.2 pts more than Nifty Microcap 250, over the same two closes: a difference in percentage points, not a measure of what the filing did.
Minute windows have no benchmark: there is no intraday index history to compare against.
Baazar Style Retail's board approved: (1) appointment of Mrs. Binata Sengupta, former General Manager of Bank of India with 35 years banking experience, as Non-Executive Independent Director for 3 years; (2) incorporation of a wholly owned subsidiary to enter solar power and renewable energy business; (3) allotment of 20 lakh equity shares to Cupid Limited (non-promoter) on conversion of warrants at Rs 328.25 per share, bringing in about Rs 65.65 crore. Audit Committee was also reconstituted.
Diversification into renewable energy via new WOS; about Rs 65.65 crore infusion from non-promoter warrant conversion; independent director adds board expertise.