Modern Dairies Allots 16 Lakh Shares on Warrant Conversion
Modern Dairies Ltd has announced the allotment of 16,00,000 equity shares following the conversion of warrants. This allotment is part of a larger preferential issue of 86,00,000 warrants to Promoters and Promoter Group. The conversion involved the exercise of the remaining 16,00,000 warrants at an issue price of ₹50 per share, with 75% of the exercise price (₹37.50) paid, totaling ₹6,00,00,000. The newly allotted shares rank pari-passu with existing equity shares and will be subject to lock-in provisions. This allotment increases the company's paid-up equity share capital to ₹30,01,98,610 from ₹28,41,98,610.
Key Highlights
- 16 lakh equity shares allotted upon warrant conversion.
- Total consideration for conversion amounts to ₹6 crore.
- Paid-up share capital increased post-allotment.
- Allotted shares rank pari-passu with existing equity.
- Shares are subject to lock-in period as per regulations.
Price Impact
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