Sequent Scientific allots 11 lakh warrants to promoter entity

Pharma firm Sequent Scientific has alloted 11 lakh warrants at a price of Rs 475 per warrant, convertible into same number of shares, to promoter group entity Pronomz Ventures LLP.
"Pursuant to the resolution passed by the members of the company at the Extraordinary General Meeting held on March 31, 2015, the company on April 11, 2015 has allotted 1,100,000 warrants at a price of Rs 475 per warrant (including a premium of Rs 465 per warrant) convertible into 1,100,000 equity shares of Rs 10 to M/s Pronomz Ventures LLP, a promoter group entity," Sequent Scientific Ltd said in a filing to the BSE.

The warrants are convertible into equity shares within a period of 18 months from the date of issue, it added.
Sequent Scientific shares were trading 17.01 per cent up at Rs 655.25 per scrip during afternoon session on the BSE.