Lactose India Ltd allots 12.48 lakh shares on conversion of warrants

The Board of Directors of Lactose India Ltd, through Board Resolution approved the allotment of first tranche of 12,48,000 Equity Shares of Rs. 10/- each, fully paid up pursuant to conversion of warrants (out of 24,00,000 convertible warrants) in to Equity Shares.

As per Regulation 169(2) of the SEBI (ICDR) Regulations, 2018, 25% of the allotment price has been paid by the allottees in to the Bank Account of the Company at the time of subscription. Further the holders of 12,48,000 convertible warrants have paid the balance 75% of the consideration and exercised their right of conversion.

Therefore, the Board of Directors in its meeting on 24th February, 2021 has allotted 12,48,000 Equity Shares of face value Rs. 10/- each to the warrants holder at a premium of Rs 11/- each.

Consequent to the said allotment, the Paid-up Equity Share Capital of the Company stands increased to Rs. 11,43,70,000/- (Rupees Eleven Crore Fourty Three Lakh Seventy Thousand only) divided into 1,14,37,000 (One Crore Fourteen Lakh Thirty Seven Thousand) Equity Shares of face value Rs. 10/- each. The new equity shares issued rank pari-passu with the existing equity shares.

Shares of LACTOSE (INDIA) LTD. was last trading in BSE at Rs.25.55 as compared to the previous close of Rs. 22.35. The total number of shares traded during the day was 72487 in over 299 trades.

The stock hit an intraday high of Rs. 26.5 and intraday low of 23.5. The net turnover during the day was Rs. 1840023.

Source : Equity Bulls

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