Modern Dairies Ltd Allots 16 Lakh Equity Shares Following Warrant Conversion

Modern Dairies Ltd has allotted 16,00,000 equity shares following the conversion of warrants held by promoters and the promoter group. The warrants, which were convertible into equivalent number of equity shares at a price of Rs. 50/- each, were exercised at a price of Rs. 37.50/- per warrant. The allotment was approved by the Allotment Committee of the Company and the allotted shares will rank pari-passu with the existing equity shares of the Company. The paid-up equity share capital of the Company stands increased to Rs. 28,41,98,610/- (Twenty Eight Crore up Share Capital Four Lakh Nineteen Thousand Forty One Lakh Ninety Eight Eight Hundred Sixty One Only) post allotment.