Promoters and Promoter group have paid the initial subscription amount, as per the terms of the issue, of Rs.56.25 Crores and an additional amount of Rs.17.13 crore, which will be adjusted against balance premium for Warrants issued. As on 30 September 2020, Promoters and Promoter group holding in the company stood at 68.94% and this would increase to 72.05% upon conversion of all Warrants.
The funds raised would be used to meet the growth requirements of the company, reduction in liabilities and general corporate purposes.
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