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| Exchange Disseminated Time 28/01/2016 11:51:38 | Bedmutha Industries Ltd has informed BSE that pursuant to the resolution passed by the Members of the Company at the Annual General Meeting held on September 25, 2015; the "Allotment Committee" of the Company at its Meeting held on January 28, 2016 has issued and allotted 35,00,000 (Thirty Five Lakh) Convertible Preferential Warrants to its proposed allottees i.e. Promoters and Promoter Group at an issue price of Rs. 15.50 per equity share. The Company has received a payment of Rs. 1,35,62,500/- (One Crore Thirty Five Lakhs Sixty Two Thousand Five Hundred only) which is 25% of the total preferential allotment money (i.e. Rs. 5,42,50,000) from the respective allottees. Balance consideration is payable on conversion of warrants into equity shares.
The warrants are convertible into equity shares within a period of 18 months from the date of issue. |
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