Sun Retail Allots 12.92 Cr Equity Warrants on Preferential Basis

Sun Retail Ltd has approved the allotment of 12,92,03,800 Fully Convertible Equity Warrants on a preferential basis to VENECE MERCHANDISE PRIVATE LIMITED. The warrants are convertible into equity shares at an issue price of Rs. 1.00 per warrant. The company has received 25% of the consideration amount upfront. The warrants are convertible within a maximum period of 18 months from the date of allotment. This move is in accordance with SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018.