Apollo Micro Systems allots 98.85 lakh convertible warrants

Apollo Micro Systems has allotted 98,85,070 warrants on preferential basis at an issue price [including the warrant subscription price (Rs. 46.50 per warrant) and the warrant exercise price (Rs. 139.50 per warrant)] of Rs. 186/- each aggregating to Rs. 183,86,23,020, to Karunakar Reddy Baddam, Promoter of the Company and to certain other non-promoter persons/ entities.

Each of the warrant, so allotted, is convertible into or exchangeable for one fully paid-up equity share of face value of Re. 10 of the Company in accordance with the provisions of Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2018, on payment of the balance consideration of Rs. 139.50/- per warrant (being 75% of the issue price per warrant) from the Allottees at the time of allotment of equity shares pursuant to exercise of conversion option against each such warrant.

Powered by Capital Market - Live News