Lord’s Mark Industries to issue shares at ₹158 apiece

Lord’s Mark Industries will issue 10,28,483 equity shares at ₹158 a share as per the Share-Cum-Warrant subscription agreement signed with Bennett, Coleman and Co.

The valuation was significant, as it represented the price at which a media institution sought to convert its share entitlement into equity in Lord’s Mark Industries, said the company.

For investors, this serves as an important indicator of confidence in the company’s long-term strategy, business fundamentals and future growth potential, it added.

Lord’s Mark Industries has established a diversified presence across healthcare, diagnostics, MedTech, dialysis, renewable energy and advanced medical technologies. The company has continued to expand its footprint through investments, product innovation and execution across these sectors.

Sachidanand Upadhyay, Managing Director, Lord’s Mark Industries, said the value of any company is ultimately reflected in the confidence institutions reposed in it.

“Bennett, Coleman and Co sought its share entitlement at ₹158 per share and we have honoured our commitment. We believe this reflects confidence in Lord’s Mark’s long-term vision, business fundamentals and growth potential. Our commitment remains focused on building a future-ready enterprise while creating sustainable value for our shareholders,” he added.

Lord’s Mark Industries shares were up one per cent at Rs 94 a share on Friday.