Fischer Medical Ventures Allots 23 Lakh Shares on Warrant Conversion

Fischer Medical Ventures Ltd has approved the allotment of 23,00,000 equity shares following the conversion of warrants. These shares, with a face value of Re. 1 each, were issued at a price of Rs. 23.40 per share, including a premium of Rs. 22.40. The conversion was exercised by a promoter, Mr. Shankar Varadharajan, who paid the remaining exercise price of Rs. 17.55 per warrant. The total consideration received for this conversion amounts to Rs. 4,03,65,000. This action represents a significant capital infusion through the exercise of existing financial instruments.