Morepen Laboratories Ltd board aprpoves preferetial issue of 16,85,00,000 warrants

The Board of Directors of Morepen Laboratories Limited, in their meeting held on Saturday, 10th October, 2020 have, subject to approval of members of the Company, considered and approved issue and allotment of up-to 16,85,00,000 (Sixteen Crore Eighty-Five Lakh) Fully Convertible Warrants ('Warrants') to the entities belonging to Promoter Group of the Company, at a price of Rs. 25/- (Rupees Twenty-Five Only) per Warrant, aggregating up-to Rs. 421,25,00,000/- (Rupees Four Hundred Twenty-One Crore and Twenty-Five Lakh Only) carrying right by the Warrant holder to conve11 and subscribe 1 (One) Equity Share of Rs. 2/- (Rupees Two Only) each against each Warrant, at a price of Rs. 25/- (Rupees Twenty-Five Only) (including the warrant subscription price and the warrant exercise price) per share, on a preferential basis to the below investors.

Brook Investments & Financial Services Pvt. Ltd. - 35,00,000 Warrants.
Concept Credits & Consultants Pvt. Ltd. - 35,00,000 Warrants.
Epitome Holdings Private Limited35,00,000 Warrants.
Scope Credits & Financial Services Pvt. Ltd. - 35,00,000 Warrants.
Mid-Med Financial Services & Investments Pvt. Ltd. - 35,00,000 Warrants.
React Investments & Financial Services Pvt. Ltd. - 35,00,000 Warrants.
Solitary Investments & Financial Services Pvt. Ltd. - 35,00,000 Warrants.
Square Investments & Financial Services Pvt. Ltd. - 35,00,000 Warrants.
Solace Investments & Financial Services Pvt. Ltd. - 35,00,000 Warrants.
Seed Securities & Services Pvt. Ltd. - 35,00,000 Warrants.
Liquid Holdings Pvt. Ltd. - 13,35,00,000 Warrants.

Shares of MOREPEN LABORATORIES LTD. was last trading in BSE at Rs.28.95 as compared to the previous close of Rs. 29.7. The total number of shares traded during the day was 1645893 in over 4886 trades.

The stock hit an intraday high of Rs. 31.95 and intraday low of 28.4. The net turnover during the day was Rs. 49561111.

Source : Equity Bulls

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