Rama Petrochemicals Allots 2.1M Equity Shares from Warrant Conversion, Raises ₹1.57 Cr

Rama Petrochemicals Ltd's Board of Directors approved the conversion of 20,99,750 warrants into an equal number of equity shares, each with a face value of ₹10. This allotment, part of the third tranche, was made upon receipt of an exercise price of ₹7.5 per warrant, totaling ₹1,57,48,125. The shares were issued to promoter group entities, Rama Industries Group Limited and Rainbow Agri Industries Limited. Post-allotment, the company's paid-up equity share capital increased from ₹13,32,06,000 to ₹15,42,03,500. The newly allotted shares will rank pari-passu with existing equity shares.