Sun Retail Allots 15.16 Cr Warrants on Preferential Basis

Sun Retail Ltd has approved the allotment of 15,16,14,786 Fully Convertible Equity Warrants on a preferential basis to 5 allottees at an issue price of Rs. 1.00 per warrant. This allotment is in the second tranche, following a special resolution passed in the AGM and in-principle approval from BSE. The company has received 25% of the consideration amount. The warrants are convertible into equity shares within a maximum period of 18 months. This move aims to raise capital and strengthen the company's financial position.