Suven Life Sciences Limited allots 1,81,00,000 convertible warrants

In terms of the special resolution passed by the Members of Suven Life Sciences Limited at its Extra-Ordinary General Meeting held on 20th March, 2021 and in accordance with the "In-principle approval" granted by the NSE and BSE, the Board of Directors of the Company in its meeting held today i.e. 02nd April, 2021 has allotted 1,81,00,000 (One crore eighty one lakh) Warrants convertible into Equity Shares to Jasti Property and Equity Holdings Private Limited (In its capacity as sole trustee of Jasti Family Trust), promoter group entity at an issue price of Rs. 81.57/- per Warrant on preferential basis in accordance with SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018.

The Company has received from allottee i.e. Jasti Property and Equity Holdings Private Limited (In its capacity as sole trustee of Jasti Family Trust) 25% of consideration amount aggregating to Rs. 36,92,00,000/- as required under SEBI (ICDR) Regulations, 2018. As the Company has allotted the convertible Warrants, there is no change in the paid up capital of the Company.

Shares of SUVEN LIFE SCIENCES LTD. was last trading in BSE at Rs.74.55 as compared to the previous close of Rs. 70.4. The total number of shares traded during the day was 27757 in over 457 trades.

The stock hit an intraday high of Rs. 75 and intraday low of 70.45. The net turnover during the day was Rs. 2032587.

Source : Equity Bulls

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