Mangalam Drugs & Organics has informed that the Board of Directors of the Company at its meeting held on June 10, 2016, has approved the allotment of balance 14,50,000 Equity Shares of Rs 10 each at a premium of Rs 55 per share pursuant to exercise of right for conversion of remaining 14,50,000 warrants into equity shares to the promoter group on preferential basis, upon the receipt of balance consideration amount on it.
The above information is a part of company’s filings submitted to BSE.