Lokesh Machines clarifies preferential issue details
Lokesh Machines Ltd has issued clarifications regarding its proposed preferential issue of equity shares and warrants. The company amended its explanatory statement, specifying that promoters, promoter group members, directors, and KMPs do not intend to participate in the equity share issue but will subscribe to warrants. However, specific individuals including Mr. Bollineni Kishore Babu, Mr. Mullapudi Srikrisha, Mr. Srinivas Mullapudi, Mr. Mullapudi Ajay Kumar, and Mrs. Naga Satya Swaroopa Rani Mullapudi intend to subscribe to equity shares. The Ultimate Beneficial Owners of Zandra Herbs & Plantations LLP were identified as Mr. Sharvil Ramanbhai Patel and Mr. Pankaj Ramanbhai Patel. The company also confirmed that the valuation report complies with SEBI ICDR Regulations, 2018.
Key Highlights
- Promoters and KMPs will subscribe to warrants, not equity shares, in the preferential issue.
- Specific promoters, including Mr. Bollineni Kishore Babu, intend to subscribe to equity shares.
- Ultimate Beneficial Owners of Zandra Herbs & Plantations LLP identified as Sharvil and Pankaj Patel.
- Valuation report for the preferential issue complies with SEBI ICDR Regulations.
Price Impact
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