Corporate News
The company’s board of directors approved a preferential allotment of warrants to several investors to raise up to Rs 25,00,40,000. The allotment involves up to 16,45,000 warrants at a price of Rs 152 per warrant, including a premium of Rs 142 per share, with 25% of the price payable at subscription and the remaining 75% due upon exercise. The warrants have an 18-month tenor and will lapse if not exercised by then. Investors receiving warrants include Mr. Om Prakash Maheshwari, Mr. Pramod Kumar Maheshwari, Mr. Nawal Kishore Maheshwari, Mrs. Neelima Maheshwari, Mrs. Shilpa Maheshwari, Mrs. Rekha Maheshwari, Mr. Anmol Maheshwari, Mr. Parv Maheshwari, Ms. Priyal Maheshwari, and Wellwin Technosoft Limited. The issue price complies with Securities and Exchange Board of India (ICDR) Regulations.