Ganga Pharmaceuticals has informed that in furtherance to the intimation dated January 19, 2024 with respect to allotment of warrants, as per the list forming part of the said letter, convertible into, or exchangeable for, one equity share of face value of Rs 10 each (Warrants) at an issue price of Rs 14 each on preferential basis to allottees (warrant holders) on payment of balance amount of Rs 10.50 per warrant (being 75% of the warrant amount). Since the below mentioned allottees did not exercise the conversion option of for 7,00,000 warrants within 18 months from the date of the allotment, i.e. on or before July 18, 2025 the amount or Rs 24,50,000, (being 25% of the amount) received on the said 7,00,000 convertible warrants stands forfeited as per provision of Regulation 169(3) of Chapter V of Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2018.
The above information is a part of company’s filings submitted to BSE.
