Suven Life Sciences Limited board approves issue of 1.81 crore warrants to promoters

The Board of Directors of Suven Life Sciences Limited at its meeting held today i.e. 20th February, 2021 has considered and approved the issuance of 1,81,00,000 (One Crore Eighty-One Lakh) fully Convertible Warrants on Preferential Basis to the Promoter / Promoter Group (Jasti Property And Equity Holdings Private Limited (In its capacity as sole trustee of Jasti Family Trust)) of the company in accordance with the provisions of the Companies Act, 2013, Chapter V of the SEBI (lssue of Capital and Disclosure Requirements) Regulations, 2018 and other applicable statutory provisions and subject to the approval of shareholders in the Extra-Ordinary General Meeting of the Company.

The price at which the warrants will be issued shall be determined in accordance with provisions of chapter V of SEBI (lssue of capital and Disclosure Requirements) Regulations, 2018 as amended.

The board also approved the notice convening the Extra-Ordinary General Meeting of the Company to be held on Saturday, 20th March, 2021 seeking the approval of the Shareholders of the Company for the issuance of fully convertible warrants on preferential basis.

Shares of SUVEN LIFE SCIENCES LTD. was last trading in BSE at Rs.83.5 as compared to the previous close of Rs. 84.75. The total number of shares traded during the day was 223415 in over 1986 trades.

The stock hit an intraday high of Rs. 91.3 and intraday low of 80.8. The net turnover during the day was Rs. 19266367.

Source : Equity Bulls

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