One Point One Solutions Hit 52W-High On Conversion of Warrants Into Shares

Shares of One Point One Solutions Ltd rose during Saturday's special trading session to hit a new 52-week high as the company issued equity shares after conversion of warrants. The company informed about the same through an exchange filing on Friday.

The company board of One Point One Solutions considered and approved the conversion of 17.5 lakh convertible warrants into 17.5 lakh equity shares of face value of Rs 2 each, on a preferential basis, upon receipt of an amount aggregating to Rs 3,71,70,000, said the company in the exchange filing on Friday.

The conversion was made upon the payment at the rate of Rs 21.24 per warrant, being 75 per cent of the issue price per warrant, from the allottees pursuant to the exercise of their rights of conversion into equity shares, it added. The remaining 25 per cent of the amount was paid at the time of the allotment of warrants.

Following the announcement, shares of One Point One Solutions rose about 4 per cent to Rs 69.95 on Saturday, hitting its new 52-week high.

One Point One Solutions is a business process management player, incorporated in the year 2008. It offers technology, accounting, skill-development and analytical solutions that help businesses build better capabilities and enable them to achieve seamless growth in telecom, broadcasting, retail and E-commerce, consumer durables, FMCG, banking and finance industry.