Garware Synthetics Ltd

Garware Synthetics Ltd

Garware Synthetics Ltd. was incorporated on 1st September 1969. The Company manufactures wide range of bristles made from Nylon 6 66610 PBT Polypropylene which finds extensive application in various Brush Industries. It recently developed nylon sutures which was currently imported into India. These sutures are used mainly for medical purpose. During the year 2014-2015 the Company issued and allotted 460000 Equity Warrants on preferential basis to the Promoters with each warrant convertible into one Equity Share of the Company of nominal value of 10/- each at a price of 50/- which includes a premium of 40/- per share and 400000 Equity Shares for cash at a price of 50/- per equity share (including premium of 40/- per Equity Share) on preferential basis to the Promoters. During the year 2016-2017 option for conversion of share warrants issued by Company was not exercise by applicants of share warrant i.e. by warrant holders. So the share warrant stands cancelled as per terms of issue.