Kesar Petroproducts Allots 1.5 Cr Shares on Warrant Conversion

Kesar Petroproducts Ltd announced the allotment of 1,50,00,000 equity shares to the Promoter Group upon conversion of convertible warrants. This conversion follows the exercise of options by warrant holders and receipt of 75% of the balance amount, totaling Rs 21.15 crore. The shares were allotted at a premium of Rs 17.80 per share. Additionally, the company forfeited 25% upfront money amounting to Rs 2.44 crore from 52,00,000 non-exercised warrants, leading to their cancellation. This corporate action increases the company's issued, subscribed, and paid-up equity share capital.