Bedmutha Industries has informed that pursuant to the resolution passed by the Members of the Company at the Annual General Meeting held on September 25, 2015; the ‘Allotment Committee’ of the Company at its Meeting held on January 28, 2016 has issued and allotted 35,00,000 Convertible Preferential Warrants to its proposed allottees i.e. Promoters and Promoter Group at an issue price of Rs 15.50 per equity share. The Company has received a payment of Rs1,35,62,500 which is 25% of the total preferential allotment money (i.e. Rs 5,42,50,000) from the respective allottees. Balance consideration is payable on conversion of warrants into equity shares. The warrants are convertible into equity shares within a period of 18 months from the date of issue.
The above information is a part of company’s filings submitted to BSE.
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