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.