IIRM Holdings Allots Equity Shares and Warrants via Preferential Issue

IIRM Holdings India Ltd announced the allotment of 15,59,883 equity shares and 88,39,333 convertible warrants through a preferential issue. The equity shares were allotted at INR 143.28 per share, aggregating to INR 22.35 Crores. The convertible warrants were also allotted at INR 143.28 per warrant, aggregating to INR 126.65 Crores. Each warrant is convertible into one equity share. The company received 25% upfront payment for the warrants, with the balance due upon exercise. One of the 14 proposed offerees, Mr. Pradeep Kumar, did not subscribe.