Valor Estate allots CCPS to non-promoter Konark Realtech

Valor Estate Limited, formerly known as D B Realty Limited, has allotted 6,45,75,000 0.0001% Compulsory Convertible Preference Shares (CCPS) to Konark Realtech Private Limited (KRPL), a non-promoter of the company. These CCPS, each with a face value of ₹10, were issued following a variation in the terms of 6,45,75,000 8% Redeemable Preference Shares (RPS) previously held by KRPL.

The allotted CCPS will convert into 32,02,330 fully paid-up equity shares, each with a face value of ₹10, at a price of ₹201.65 per equity share. This price includes a premium of ₹191.65 per equity share, in compliance with SEBI regulations.

The company clarified that this allotment, resulting from the variation in rights of RPS, will not alter the existing paid-up capital, which remains at ₹539,20,44,310. The company requested that this information be taken on record by both the BSE Limited and the National Stock Exchange of India Limited.