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NCL Buildtek is issuing shares at Rs.333 per share to promoters

An Extraordinary General Meeting of M/s. NCL Buildtek Limited will be held on Saturday, 07th August, 2021 at 10.30 am (IST) through Video Conferencing (“VC”)/ Other Audio Visual Means (“OAVM”) platform in accordance with the applicable provisions of the Companies Act, 2013 read with MCA General Circulars and Circular No. 10/2021 dated 23rd June, 2021 to transact the following business.

(i) Ncl-Buildtek is raising 25 Crores from NCL Industries, a promoter group. For this, they are issuing 2500 Optionally Convertible Debentures at Face value of Rs.10,000 per share. Each OCD can be converted into 30 equity shares of face value Rs.10.

Total Value = 25000*10000 = 25 Cr

What is the value of Equity Share?

1 OCD = 30 shares

So, total shares upon conversion = 7.5 Lac

Per share value = 25Cr/7.5 lac = 333 per share.

(ii) To appoint Mr. Vatsavayi Venkata Jagannadha Raju (DIN: 07573352) as an Executive Director of the Company for a period of 3 years with effect from 01st August, 2021.

Notice of NCL Buildtek

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