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Lactose India Ltd allots 12.48 lakh shares on conversion of warrants
Posted On: 2021-02-24 00:21:22 (Time Zone: Arizona, USA)
The Board of Directors of Lactose India Ltd, through Board Resolution approved the allotment of first tranche of 12,48,000 Equity Shares of Rs. 10/- each, fully paid up pursuant to conversion of warrants (out of 24,00,000 convertible warrants) in to Equity Shares.
As per Regulation 169(2) of the SEBI (ICDR) Regulations, 2018, 25% of the allotment price has been paid by the allottees in to the Bank Account of the Company at the time of subscription. Further the holders of 12,48,000 convertible warrants have paid the balance 75% of the consideration and exercised their right of conversion.
Aditya Birla Capital has allotted 70,615 Equity Shares of the face value of ₹10/- each on 23 February 2021 pursuant to exercise of Employee Stock Options and Restricted Stock Units under Company s ABCL Scheme 2017 and ABCL Incentive Scheme.
Consequent to the above allotment, the Paid-up Equity Share Capital of the Company will increase from
Rs 24,15,04,42,810 (i.e. 2,41,50,44,281 equity shares of face value Rs 10/- each) to Rs 24,15,11,48,960 (i.e.
2,41,51,14,896 Fully Paid-up Equity Shares of Rs 10/- each).
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