Sandu Pharmaceuticals Limited approves conversion of 8,39,997 warrants

The Share Allotment Committee of Sandu Pharmaceuticals Limited met today and considered and approved the conversion of the 1st tranche of warrants into Equity Shares at a price of Rs.20.69 per share (Face Value Rs.10/- and Premium Rs.10.69 per share) in accordance with the terms of issue of warrants. Accordingly, 8,39,997 equity shares has been allotted to the following persons upon conversion of the warrants held by them.

Shashank Sandu - 2,36,500
Umesh Sandu - 2,36,500
Akshath Finvest and Properties Private Limited - 1,41,832
Neelambar leasing and Finvest Private Limited - 1,41,832
Sanbro Marketing Services Private Limited - 83,333.

The Committee also noted that the total subscription money of Rs.20.69 per share has been brought in for the above 8,39,997 Equity Shares.

Shares of SANDU PHARMACEUTICALS LTD. was last trading in BSE at Rs.33.8 as compared to the previous close of Rs. 31. The total number of shares traded during the day was 1200 in over 19 trades.

The stock hit an intraday high of Rs. 33.8 and intraday low of 30.3. The net turnover during the day was Rs. 38719.

Source : Equity Bulls

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