Avro India allots 1.06 lakh equity shares from warrant conversion

Avro India's Board approved the allotment of 1,06,090 fully paid-up equity shares to non-promoter warrant holders who exercised their option by paying the balance 75% of the issue price of ₹127.25 per share. This follows an earlier allotment of 5,30,451 convertible warrants. Consequently, the company's paid-up equity share capital increased from ₹13,31,10,500 to ₹13,41,71,400. The newly allotted shares will rank pari-passu with existing shares. Additionally, 4,24,361 warrants lapsed as the balance payment was not received within 18 months, leading to the forfeiture of the 25% upfront payment.