Granules India Allots 2.5 Cr Shares on Warrant Conversion

Granules India Ltd has approved the allotment of 2,49,82,906 equity shares of face value Re. 1/- each, fully paid-up, to its Promoter Group members. This allotment is a result of the conversion of warrants into equity shares, following the receipt of the remaining 75% of the subscription amount. The total consideration for these shares was Rs. 1,461.50 Crores. Consequently, the company's paid-up equity share capital has increased. Following this, 17,094 warrants issued to non-promoter investors remain outstanding for conversion.