Som Distilleries Board Approves Warrants Issue to Promoter

Som Distilleries & Breweries Ltd announced its Board of Directors has approved the issuance of up to 32,12,955 convertible warrants to promoter Mr. Deepak Arora. The warrants, with a face value of Rs. 2 and issue price of Rs. 77.81 each (including a premium of Rs. 75.81), will aggregate to Rs. 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 exercisable within 18 months of allotment, with 25% of the issue price payable on allotment and the remaining 75% upon conversion to equity shares.