Milkfood Ltd Allots 22 Lakh Equity Shares on Warrant Conversion

Milkfood Ltd announced the allotment of 22,00,000 equity shares of Rs. 5/- each at an issue price of Rs. 30/- per share, following the conversion of an equal number of convertible warrants. These warrants were initially issued on a preferential basis to Non-Promoter/Public category investors, specifically Mr. Sudhir Avasthi and Mr. Deepankar Barat. The conversion represents the exercise of their rights upon receipt of the balance consideration. This allotment increases the company's issued and paid-up share capital to Rs. 13,89,80,900/-, comprising 2,77,96,180 equity shares. The newly allotted shares will rank pari passu with existing equity shares.