Tinna Trade Ltd Share Price – BSE

Trading, Small Cap

Tinna Trade (Tinna), the holding Company of Fratelli Wines, announced that its Board of Directors, at its meeting held on 3 July 2024, approved preferential issue of equity shares and fully convertible warrants, both aggregating to, approx. Rs. 49 crore, to holders belonging to the promoter and non-promoter categories, comprising of:

• Preferential issue of upto 10,72,460 equity shares at an issue price of Rs. 300 per equity share for cash towards and aggregate amount of up to Rs. 32.17 crore

• Preferential issue of upto 564,350 fully convertible warrants at an issue price of Rs. 300 per warrant to be convertible at an option of warrant holder(s) in one or more tranches within 18 months of its allotment date into equivalent number of fully paid-up equity shares for an aggregate amount of upto Rs. 16.93 crore.

The proceeds from this issuance shall be utilised to address the medium-to-long term growth objectives of the Company, and shall include investments in development of vineyard tourism, owned winery at Karnataka in substitution of existing leased winery at Bijapur, brand investments including new product development and towards other corporate purposes.

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Tinna Trade announced that an Extra Ordinary General Meeting (EGM) of the Company will be held on 3 August 2024 .

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Tinna Trade will hold a meeting of the Board of Directors of the Company on 3 July 2024.

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The Board of Tinna Trade at its meeting held on 13 June 2024 has considered and approved the allotment of 19,01,000 equity shares of face value of Rs.10/- each, pursuant to conversion of 19,01,000 warrants.

Consequent to the aforesaid allotment, the paid -up equity share capital of the Company has increased to Rs. 42,20,54,340 consisting of 4,22,05,434 equity shares of face value of Rs. 10/- each.

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