Noble Polymers Allots 22.76 Lakh Shares, 2.34 Cr Warrants

Noble Polymers Ltd announced the allotment of 22,76,400 equity shares at ₹5 each, aggregating ₹1,13,82,000, to proposed promoters on a preferential basis. Additionally, the company approved the allotment of 2,34,75,735 fully convertible equity warrants, each convertible into one equity share at ₹5, for an aggregate issue price of ₹11,73,78,675. An upfront payment of ₹2,93,44,668.75 (25%) was received for these warrants from promoters and promoter group. The board meeting also noted that the acquisition of shares triggers an open offer under SEBI Takeover Regulations.