Lava is issuing ~66 Lakh shares to Clipper Global S.A. before IPO

M/s Lava International Limited is conducting an Extra-Ordinary General Meeting on Monday, 28th June 2021 at 10:30 A.M. through video conferencing. The following points will be discussed in the meeting; 1. Changes in the article of association. 2. Increase in Authorized Capital- a) Old Authorized Share Capital = 153 Crores Equity Shares of (FV 10) = 14.79 Crores Preference Shares (FY=10) = 1 lac Preference Shares (FV=100) = 5 lac b) New Authorized Share Capital = 396.1 Crores Equity Shares of (FV 10) = 39.1 Crores Preference Shares (FY=10) = 1 lac Preference Shares (FV=100) = 5 lac So, we can conclude that company is planning to issue new shares . The first step in this direction has been done by increasing the share capital. 3. Issue of 66,23,517 equity shares at Face value of 10 to the Clipper Global S.A. on preferential private placement basis.