Syncom Formulations (India) Ltd board approves conversion of warrants

The Board of directors of Syncom Formulations (India) Ltd at its meeting held on Saturday, 27th March, 2021 at 4.00 P.M. have decided and approved the allotment of 93,00,000 (Ninety Three Lakhs) Equity shares of Re. 1/- each at a premium of Rs. 1.53/- per share to Mrs. Sulabh Rahul Bankda (one of the Warrant Holder) after receipt of balance amount of Rs. 1,74,84,000/- (Rupees One Crore Seventy Four Lakhs Eighty Four Thousand only) against the convertible warrants issued by the company on 25th January, 2021 on preferential basis as approved by the shareholders.

Shares of SYNCOM FORMULATIONS (INDIA) LTD. was last trading in BSE at Rs.3.08 as compared to the previous close of Rs. 3.13. The total number of shares traded during the day was 2728708 in over 2126 trades.

The stock hit an intraday high of Rs. 3.19 and intraday low of 3.07. The net turnover during the day was Rs. 8490758.

Source : Equity Bulls

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