Swastika Investmart LimitedBSE: SWASTIKA

Board Meeting Outcome for Outcome Of The Preferential Allotment Committee Meeting Held Today Regarding Allotment Of 90,50,000 Share Warrants Convertible Into Equivalent Number Of Equity Shares.

· Issued by Swastika Investmart Limited via BSE India

Filed with BSE · · 6 pages · English

Summary by 6ix AI

Swastika Investmart Limited has reported the outcome of its Preferential Allotment Committee meeting regarding the allotment of share warrants convertible into equity shares, as detailed in the filing. The committee approved the allotment of a significant number of share warrants to both promoter and non-promoter groups, following prior approval from the company's members and the stock exchange. The company has received an upfront payment representing a portion of the total consideration for these warrants, with the remaining amount due upon conversion.

Written by 6ix AI from the company’s filing. How 6ix writes summaries

On 6ix: 6ix.com/news/board-meeting-outcome-for-outcome-of-the-preferential-allotment-committee-meeting-held-today-regarding-allotment-of-9050000-share-warrants-convertible-into-equivalent-number-of-equity-shares

The Company has received an aggregate upfront payment of Rs. 14,39,85,500 (Rupees Fourteen Crore Thirty-Nine Lakh Eighty-Five Thousand Five Hundred Only) representing 25% of the total warrant consideration. The balance 75% shall be payable by the respective warrant holders at the time of exercising their conversion rights, within a period of 18 months from the date of allotment, in accordance with

Swastika Investmart Limited on 6ix

Earlier from Swastika Investmart

Later from Swastika Investmart

All Swastika Investmart news releases