Marksans Pharma Ltd board approves preferential issue of warrants at Rs. 74

The Board of Directors of Marksans Pharma Ltd at its meeting held today, i.e., 23rd July, 2021, has created, issued and allotted convertible warrants on preferential basis as below:

- 10,00,000 convertible warrants to Mr. Mark Saldanha (Promoter of the Company) at a price of INR 74.00 per warrant, being the price not less than the price determined in accordance with Chapter V of SEBI (ICDR) Regulations, 2018; and

- 4,93,24,324 convertible warrants to OrbiMed Asia IV Mauritius FVCI Limited at a price of INR 74.00 per warrant, being the price not less than the price determined in accordance with Chapter V ofSEBI (lCDR) Regulations, 2018.

25% of the issue price of each Warrant paid upfront for allotment of the Warrants. The remaining 75% of the issue price of each Warrant shall be payable at the time of conversion of the said Warrants into equity shares of the Company.

Each Warrant can be converted into one equity share of the Company at any time within eighteen months from the date of allotment of Warrants.

Shares of MARKSANS PHARMA LTD. was last trading in BSE at Rs. 86.8 as compared to the previous close of Rs. 86.85. The total number of shares traded during the day was 260383 in over 1794 trades.

The stock hit an intraday high of Rs. 88 and intraday low of 86.25. The net turnover during the day was Rs. 22593217.

Source : Equity Bulls

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