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Welcure Drugs & Pharmaceuticals informs about outcome of board meeting

18 Jul 2024 Evaluate
Welcure Drugs & Pharmaceuticals has informed that the Board of Directors of the Company in their meeting held on today Thursday, July 18, 2024, at Register office of the Company, considered and approved the allotment of 9,90,00,000 fully Convertible Warrants (‘Warrants'), carrying a right exercisable by the Warrant holder to subscribe to one Equity Share having face value of Rs 10 per Warrant, to persons belonging to “Non-Promoter, Public Category” as detailed in Annexure-I, at an issue price of Rs 10 (Rupees Ten Only) per Warrant, after receipt of stipulated amount i.e. 25% of the Issue Price as subscription amount in accordance with provisions of Chapter V of SEBI ICDR Regulations, pursuant to the members’ approval obtained through postal ballot on July 11, 2024 by means of passing a Special Resolution and “In-Principle Approval” obtained from the Stock Exchanges i.e. BSE. Each of the Warrant, so allotted, is convertible into or exchangeable for one fully paid-up equity share having a face value of Rs 10 (Rupees Ten Only) of the Company in accordance with the provisions of Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2018, on payment of the balance consideration, 75% of the Warrant Issue Price from the Allottees within 18 months from the date of allotment of these ‘warrants. These warrants allotted on preferential basis shall be locked-in for specified period in accordance with the provisions of Chapter V of the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2018. The Board Meeting commenced at 11.30 AM and concluded at 12.15 PM.

The above information is a part of company’s filings submitted to BSE.

Welcure Drugs&Pharma Share Price

0.32 -0.01 (-3.03%)
17-Apr-2026 16:59 View Price Chart
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