At what rate the warrants getting allotted to these non promoter entities including zenith ?
Answer:
Edit : “Warrants were allotted to the warrant
holders on 03.03.2023 at an issue price of
Rs. 300/-.”
“Pursuant to this allotment (allotment of
15,23,555 Equity Shares made pursuant to
the conversion of warrants into equity
shares and consequently allotment of
15,23,555 bonus shares on the shares
converted pursuant to conversion), the
paid-up share capital of the Company is
increased to Rs. 34,83,21,660 consisting of
17,41,60,830 Equity Shares of Rs. 2/- each.”
The original allotment notification.
cfe04cad-c89e-4517-bdbe-5ddf9ed77901 (1).pdf (408.6 KB)
It includes many other entities who converter the warrants ipon payment before this date or due to pay 75% of issue price yet to pay.
So the rate at which they got the shares rs.150 at current rates considering the bonus shares. Am I correct?
Is this a good Corp governance practice ?
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