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The board of Zicom Electronic Security Systems has allotted 10.5 lakh warrants, each carrying an entitlement to subscribe to one equity share of face value ₹10 each, on preferential basis for cash at a price of ₹160 a share to two promoter groups. Baronet Properties & Investments Private Ltd and Coronet Properties & Investments Private Ltd have been allotted 5.25 lakh warrants each. The face value of the warrants is equal to 25 per cent of the offer price of the resulting equity shares to which the warrant-holders are entitled to subscribe, i.e. ₹40 a warrant. The warrants, including the resulting equity shares, are under lock-in and the warrant-holders are entitled to exercise the rights within 18 months from the date of their allotment. Shares of Zicom Electronic closed at ₹166, down 7.50 per cent on the BSE.
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