Wanbury board approves preferential allotment to promoter group at Rs105 per warrant

18 Feb 2022 , 09:17 AM

The Board of Directors of Wanbury Limited at its meeting held on February 17, 2022 has considered and approved the issuance of upto 54,50,000 convertible warrants.

The approved issuance of convertible warrants is at a price of Rs. 105/- per Warrant with a right to the warrant holders to apply for and be allotted 1 Equity Share of the face value of Rs. 10/- each of the Company at a premium of Rs. 95/- per share for each Warrant within a period of 18 months from the date of allotment of the Warrants, for an amount upto to Rs57,22,50,000/- to “Expert Chemicals (India) Private Limited”, Promoter, on a preferential basis, subject to the approval of the Members of the Company and such regulatory / statutory authorities as may be applicable, said company in a regulatory filing on Thursday.

At around 9:17 AM, Wanbury was trading at Rs101 apiece higher by 1.81% on Sensex.