Corporate Action10 Jun 2026, 06:40 pm
Sudarshan Chemical Allots 9.8 Lakh Shares to Promoter Post Warrant Conversion
AI Summary
Sudarshan Chemical Industries Ltd has allotted 9,80,000 equity shares to promoter Mr. Rajesh Balkrishna Rathi upon conversion of warrants. These warrants were initially issued on a preferential basis. The promoter has remitted the remaining 75% of the consideration for the warrants. This allotment increases the company's paid-up equity share capital and consequently, the promoter's shareholding. The new shares will rank pari-passu with existing shares and are subject to lock-in periods as per SEBI regulations.
Key Highlights
- 9,80,000 equity shares allotted to promoter upon warrant conversion.
- Promoter remitted remaining 75% consideration for warrants.
- Paid-up equity share capital increased post-allotment.
- Promoter's shareholding increased to 9.32% from 8.19%.
- New shares subject to lock-in period as per SEBI ICDR Regulations.
Price Impact
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