The Hindu Business Line : Aurobindo Pharma allots warrants to promoters

FOLLOWING the consent of shareholders at the extraordinary general meeting in November last, the board of directors of Aurobindo Pharma Ltd (APL), the city-based pharmaceutical major, at the meeting held on Wednesday, has allotted convertible share warrants to promoters.

The company informed the stock exchanges that the board has allotted 25 lakh warrants to the promoter, Mr P.V. Ramaprasad Reddy, at Rs 375 per warrant on payment of Rs 140 per warrant up-front. The balance amount of Rs 235 per warrant would be payable at the time of conversion of these warrants into equity shares of Rs 5 each of the company within the stipulated time as per the SEBI guidelines.

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