Kesar Petroproducts Allots 1.5 Cr Shares to Promoter Group

Kesar Petroproducts Ltd announced the allotment of 1,50,00,000 equity shares to its promoter group upon conversion of convertible warrants. This follows the exercise of options by warrant holders, who paid 75% of the balance amount totaling Rs 21.15 crore. The shares were allotted at a premium of Rs 17.80 per share. Additionally, 52,00,000 warrants lapsed, with the 25% upfront application money of Rs 2.44 crore forfeited. This allotment increases the company's issued, subscribed, and paid-up equity share capital.