SPARC allots over 14.04 lakh equity shares upon conversion of warrants

The current market cap of the company is Rs7,415.94cr.

Aug 25, 2021 03:08 IST India Infoline News Service

Sparc
Sun Pharma Advanced Research Company Ltd has informed to the exchange regarding issue of equity shares upon conversion of warrants.

Earlier on July 08, 2021 the company informed the allotment of 6,24,74,082 warrants, each convertible into or exchangeable for one fully paid up equity share of Re. 1 each of the Company, at an issue price of Rs. 178/- on preferential basis to 31 allottees (warrant holders).

Pursuant to the provisions of SEBI, the warrant holders had paid 25% (Rs. 44.50/- per warrant) of the issue price of the warrant as the warrant subscription price.

The balance 75% (Rs.133.50/- per warrant) of the issue price of warrants was to be paid at the time of exercise of option to apply for fully paid –up Equity shares of Re. 1/- each of the Company, against each such warrants held by the warrant holder.

In view of above and upon receipt from one of the warrant holder, a written notice and balance 75% (at the rate of Rs. 133.50/- per warrant) for the warrants so held, the company on August 25, 2021 has allotted 14,04,494 equity shares of Re. 1/- each, upon conversion / exchange of equal number of warrants.

Name of the warrant holder is Abakkus Growth Fund - 1

Post the above allotment, the paid up capital of the Company has increased from Rs. 26,20,47,506 (26,20,47,506 equity shares of face value of Re. 1/- each fully paid up) to Rs. 26,34,52,000/- (26,34,52,000 equity shares of face value of Re. 1/- each fully paid up).

At around 3:00 PM, Sun Pharma Advanced Research Company was trading at Rs288.05 per piece up by Rs5.05 or 1.78% on Sensex.

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