Kilitch Drugs India board allots 5 lakh warrants; Stock slips 5%

25 Jan 2022 , 09:47 AM

The Board Meeting of Kilitch Drugs India Ltd held on January 24, 2022 has allotted 5,00,000 Warrants (1 Warrant convertible into 1 Equity Share of face value of Rs.10/- each) at a issue price of Rs. 177.15 (including premium of Rs. 167.15 per warrant) to the persons/entities on preferential basis.

The name of the allottees are:

• Mukund Mehta 2,50,000 warrants and category Promoter – Individual
• Bhavin Mehta 2,50,000 warrants and category Promoter – Individual

In a regulatory filing the company said, “Warrant will be converted into 1 equity share upon exercise of option by the warrant holder(s), within 18 months from the date of allotment of warrants.

Consequently, the paid up equity share capital of the Company now stands increased from Rs. 15,58,23,190/- to Rs. 16,08,23,190/-.”

On Tuesday at around 9:48 AM, Kilitch Drugs was trading at Rs218.80 per share down by Rs11.5 or 4.99% amid bearish markets tone on Sensex.