Deals22 Jun 2026, 04:50 pm
Eco Recycling Approves Preferential Allotment of 300,000 Warrants
AI Summary
Eco Recycling Limited's Board of Directors has approved the preferential allotment of 300,000 Fully Convertible Share Warrants to its promoters and promoter group. Each warrant is convertible into one equity share of Rs. 10 at a premium of Rs. 401, for a total issue price of Rs. 411 per warrant. The warrants can be exercised within 18 months from the allotment date. A 25% upfront payment of Rs. 10,275,000 per allottee has been received. This allotment does not immediately change the company's paid-up equity share capital as warrants are yet to be converted. Shareholder approval and BSE in-principle approval have been obtained.
Key Highlights
- Eco Recycling approves preferential allotment of 300,000 convertible warrants.
- Warrants issued to promoters and promoter group at Rs. 411 each.
- Allotment allows conversion into equity shares within 18 months.
- 25% upfront payment received, no immediate change in paid-up capital.
Price Impact
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