Granules India allots 40,95,230 warrants on preferential basis

On 28 August 2015

Granules India announced that in connection with issue of warrants on preferential basis to promoters, as informed earlier, a Special Resolution has been passed by Shareholders of the Company at the 24th Annual General Meeting held on 13 August 2015 regarding issue of not exceeding 40,95,230 warrants on a preferential basis to promoter of the Company entitling the allottee of warrants, from time to time to apply for and obtain allotment of one equity share of the face value of Re. 1/- each fully paid up against each of such warrant at such price and on such terms and conditions as may be in accordance with applicable provisions of law including SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2009 as amended thereof. The price has been worked out at Rs. 84.91/- per warrant. In this connection we would like to inform you that after receipt of subscription money being 25% of warrant price in accordance with SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2009, at a meeting of the Share Transfer and Stakeholders Relationship Committee of Board of Directors of the Company held on 28 August 2015, 40,95,230 warrants have been allotted on preferential basis to C. Krishna Prasad, Chairman and Managing Director and Promoter of the Company at a price of Rs. 84.91/- per warrant.

Fully paid-up equity shares of the face value of Re. 1/- each of the Company will be allotted on receipt of balance 75% warrant price on each warrant within eighteen months from 28 August, 2015.

As the Company has allotted warrants, there is no change in the Paid up share capital of the Company.

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