Chandni Machines Ltd Approves Preferential Allotment of Equity Shares & Convertible Warrants

Chandni Machines Ltd has approved the allotment of 38,10,900 equity shares and 40,00,000 fully convertible warrants on a preferential basis. The equity shares are priced at Rs. 52.50 (including a premium of Rs. 42.50) each and the warrants are convertible into equity shares at the same price within a maximum period of 18 months from the date of allotment. The company has received 25% of the warrant issue price from the allottees. The allotment of 3,73,100 equity shares could not be made due to non-receipt of allotment money.