Modern Dairies Allots 19 Lakh Equity Shares on Warrant Conversion

Modern Dairies Ltd has announced the allotment of 19,00,000 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 19,00,000 warrants at an issue price of ₹50 per share, with 75% of the exercise price (₹37.50) paid, totaling ₹7,12,50,000. The allotment increases the company's paid-up equity share capital from ₹30,01,98,610 to ₹31,91,98,610. The newly allotted shares will rank pari-passu with existing shares and are subject to lock-in provisions.