Modi Naturals board to raise funds worth Rs13.46 crore by preferential issue of warrants

8 Apr 2022 , 02:16 PM

The Board of Directors of Modi Naturals Ltd at its meeting held on April 07, 2022 has considered a proposal for raising of funds approximating to Rs13.46 crore by preferential issue of warrants to Promoters and persons belonging to promoter category.

As per regulatory filing, the Board, considered and approved issue of up to 6,50,000 warrants, carrying an entitlement for the allottee to subscribe to an equal number of fully paid up equity shares at the exercise price of Rs207 (including a premium of Rs197) (“Issue Price”), to Akshay Modi (4,40,000 warrants), Anil Modi (1,30,000 warrants), Aditi Modi (42,000 warrants) and Neha Agarwal (38,000 warrants) on a preferential basis (“Preferential Issue”).

At around 2:19 PM, Modi Naturals was trading at Rs241.20 apiece down by Rs1.95 or 0.8% on the BSE.