Morepen Laboratories Limited allots 3.5 crore warrants

The Board of Directors of Morepen Laboratories Limited at their meeting held today i.e., Thursday, 25th March, 2021 (commenced at 01.00 P.M. and concluded at 01.30 P.M.), approved the allotment of 3,50,00,000 (Three Crore Fifty Lakh) Fully Convertible Warrants ('Warrants') each carrying a right to subscribe an equal no. of Equity Share of Rs. 2/- (Rupees Two Only) each of the Company, for cash, at an issue price of Rs. 25/- (Rupees Twenty-Five Only) (including premium of Rs. 23/-) per warrant, on preferential basis to the entities belonging to the promoter group of the Company ('Allottees'), upon receipt of 25% of issue price from the allottees.

Shares of MOREPEN LABORATORIES LTD. was last trading in BSE at Rs.31.6 as compared to the previous close of Rs. 32.35. The total number of shares traded during the day was 252231 in over 639 trades.

The stock hit an intraday high of Rs. 33 and intraday low of 30.85. The net turnover during the day was Rs. 7979285.

Source : Equity Bulls

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