Som Distilleries and Breweries Ltd withdraws preferential issue of warrants

Due to the outbreak of second wave of Covid-19 Pandemic (resulting in nationwide temporarily suspension of economic activities), the proposed issue of 66,00,000 Convertible Equity Warrants on preferential basis to proposed allottees (promoters / promoters group and public investors) did not materialize as the proposed allottees did not subscribe to the warrants within the prescribe time lines.

Therefore, the preferential issue is hereby withdrawn. Accordingly, the company will not proceed with the preferential allotment of convertible warrants to the promoter(s) / public investors. The Board has passed the resolution by circulation on June 12, 2021, for withdrawing the Issue.

Shares of SOM DISTILLERIES & BREWERIES LTD. was last trading in BSE at Rs.48 as compared to the previous close of Rs. 49.2. The total number of shares traded during the day was 52907 in over 410 trades.

The stock hit an intraday high of Rs. 49.7 and intraday low of 47. The net turnover during the day was Rs. 2563653.

Source : Equity Bulls

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