Stocks

SPARC raises ₹1,112 cr via warrants

Our Bureau Chennai | Updated on July 08, 2021

The committee of board of Sun Pharma Advanced Research Company has approved the allotment of about 6.25 crore warrants on preferential basis at ₹178 each (₹44.50/warrant as subscription price and ₹133.50/warrant as exercise price) to Dilip Shantilal Shanghvi, promoter of the company, and to certain other non-promoter persons/entities. The company has raised ₹1,112.04 crore through warrants. As against the earlier approval for issue of about 6.75 crore warrants, the committee has allotted only about 6.25 crore warrants, due to non-receipt of subscription money by the proposed allottees and/or non- receipt of in-principle approval from the exchanges, it said.

Published on July 08, 2021

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