Lloyds buys 14,569 preference shares from Bharat Wire Ropes banks
BHARATWIRE · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
On the reaction day the stock moved 20.0 pts more than Nifty Microcap 250 and 20.4 pts more than its Iron & Steel Products peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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The promoters transferred the right to buy unlisted compulsory convertible preference shares to Lloyds Metals and Energy. Lloyds bought 9,895 shares from Union Bank and 4,674 from Central Bank off market, totalling 14,569. Earlier, 38,266 such shares were allotted to a bank consortium to convert Rs 382.66 crore of loans under the FY2020-21 resolution plan. Paid-up capital is unchanged for now.
No immediate change in paid-up capital. If the preference shares convert later, ownership could change and existing shareholders could face dilution.