Som Distilleries and Breweries Ltd allots 25 lakh shares on conversion of warrants

Mr. Jagdish Kumar Arora and Mr. Deepak Arora, Promoters of Som Distilleries and Breweries Limited have paid the remaining 75% of the warrant exercise price of Rs. 72/- per warrant, aggregating to Rs.13,50,00,000 (Rupees Thirteen Crores and Fifty Lakhs only) within a period of 3 months, as against the stipulated time of 18 months to the Company.

Pursuant to the receipt of money, the Board approved the allotment of 25,00,000 equity shares of Rs.5/- each of the Company, fully paid-up, pursuant to the conversion of preferential warrants into equity, to the Mr. Jagdish Kumar Arora and Mr. Deepak Arora, Promoters allottees.

This early and timely infusion of the funds will set the tone towards preparation for the upcoming season of the beer.

Shares of Som Distilleries & Breweries Limited was last trading in BSE at Rs. 121.05 as compared to the previous close of Rs. 121.60. The total number of shares traded during the day was 54740 in over 1706 trades.

The stock hit an intraday high of Rs. 123.10 and intraday low of 118.20. The net turnover during the day was Rs. 6569474.00.

Source : Equity Bulls

Keywords

SomDistilleriesandBreweries INE480C01020 SDBL SharesAllotment WarrantsConversion