Som Distilleries Board Approves Preferential Issue of Warrants

Som Distilleries & Breweries Ltd's Board of Directors has approved the issuance of up to 32,12,955 convertible warrants on a preferential basis to promoter Mr. Deepak Arora. The warrants are priced at ₹77.81 each, including a premium of ₹75.81, aggregating to ₹25,00,00,028.55. The funds raised will be primarily used for working capital and general corporate purposes. The issuance is subject to shareholder approval at the upcoming AGM and other regulatory approvals. The warrants are convertible into equity shares within 18 months of allotment, with 25% of the issue price payable on allotment and the remaining 75% upon conversion.