Comments
SoftTech Engineers Limited (Softtech) announced the forthcoming conversion of share warrants allotted to Florintree Technologies LLP, a non-promoter entity, into equity shares. This development follows the full payment for the allotted warrants.
After the conversion, Florintree Technologies LLP will hold a 15.60 per cent stake in the company. Florintree had committed ₹25 crores for 20,00,000 Fully Convertible Warrants through preferential allotment on October 05, 2022. The funding for the warrants was completed in multiple installments within the available 18-month conversion period. The allotment of 20,00,000 convertible warrants to Florintree Technologies LLP was officially communicated to the Stock Exchanges on October 06, 2022.
However, the shares were down by 4.80 per cent to ₹217 at 2.25 pm on the BSE.
Comments
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.