Shareholders also approved 50 million fully convertible warrants a promoter group company Liquid Holdings at Rs.38 per warrant/ share aggregating up to Rs. 190 crore for cash to be converted into equity within 18 months.
This is a milestone for the Company as this approval paves the way to drive exponential growth and create value for all stakeholders. This EGM was the next step for inclusion of Corinth Group, a global private investment Group, headquartered in Switzerland, which announced and extended USD 32.50 million in Morepen Laboratories, out of a total USD 100 million investment in the promoter group.
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