New Delhi, Jul 10 (PTI) Taylormade Renewables Ltd on Monday said its board has approved a proposal to migrate its equity shares from BSE SME platform to the main board of BSE.

However, the decision remains subject to necessary approvals and eligibility criteria prescribed by the BSE/SEBI, the company said in a regulatory filing.

Also Read | Public Health Groups Urge GST Council To Raise Compensation Cess on Tobacco Products.

The board also approved a draft of postal ballot notice for migration of the company, it said.

July 7, 2023 has been fixed as the cut-off date for ascertaining the list of shareholders to whom notice of postal ballot shall be sent and for reckoning voting rights.

Also Read | GST Council To Decide on Taxation on Online Gaming, Definition of MUVs; Tighten Norms for Registration, ITC Claims.

Further, the board approved the "allotment of 4,62,576 equity shares at an issue price of Rs 243 each i.e., of the face value of Rs 10 each and at a premium of Rs 233 each per equity share aggregating to Rs 11,24,05,968 on a preferential basis to investors".

Besides, the board approved the allotment of 5.42 lakh fully convertible warrants each convertible into, or exchangeable for one fully paid-up equity share of the company having face value of Rs 10 at a price of Rs 243 each (including a premium of Rs 233 per warrants payable in cash aggregating up to Rs 13,17,06,000 on a preferential basis to investors.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)