Bal Pharma has informed that in continuation of the Company's earlier intimations made in connection with the allotment of Convertible Warrants on a preferential basis, pursuant to Regulation 30 read with Schedule III of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, the Company hereby clarified that the timeline for utilisation of the net proceeds / tenure of the Convertible Warrants is 18 months from the date of allotment, in accordance with the applicable provisions of Regulation 162 of the SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018, and is subject to receipt of the requisite in-principle approval from the Stock Exchanges. Accordingly, the Company confirmed that there is no change in the objects of the Preferential Issue or the manner of utilisation of the proceeds. The present intimation is being made only to clarify the tentative timeline for utilisation of the net proceeds in view of the 18-month tenure of the Convertible Warrants.
The above information is a part of company’s filings submitted to BSE.
