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Shareholders of Dynamatic Technologies have approved preferential issue of convertible warrants to Udayant Malhoutra and Wavell Investments Private Limited, promoters of the company.
According to a release to exchanges, company said with Rs 13 crore being brought in by Udayant Malhoutra, the board of directors of the company has approved allotment of 2,17,269 equity shares by conversion of the convertible warrants held by Udayant Malhoutra, at the rate of Rs 10 each, issued at a premium of Rs 787.78, by passing a resolution by circulation under section 175 of the Companies Act, 2013.
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