Pennar Industries Allots 5.5 Lakh Equity Shares on Warrant Conversion

Pennar Industries Ltd announced the allotment of 5,50,000 equity shares of face value Rs. 5/- each upon conversion of warrants. This follows the exercise of warrants previously allotted on a preferential basis to Pennar Holdings Private Limited. The company received Rs. 6,93,00,000 as the warrant exercise price. Consequently, the company's issued and paid-up capital has increased to Rs. 67,74,81,155, comprising 13,54,96,231 equity shares. The newly allotted shares will rank pari passu with existing shares.