Archit Organosys Ltd has informed to the Exchange regarding allotment of 35,00,000 equity shares upon conversion of warrants issued on preferential basis.
The Board of Directors on 13th October, 2020 has allotted total 55,00,000 convertible warrants of Rs. 10/- each on preferential basis. Out of total 55,00,000, the Board has converted 20,00,000 warrants into equity shares on 31st May, 2021.
Following remaining warrant holders have exercised their right of conversion and have paid the balance consideration amount being 75% of the issue price.
Accordingly, the Board of Directors on 23rd June, 2021 has allotted equal number of equity shares to them.
Upon allotment, the paid up share capital of the Company is increased from Rs. 17,02,07,230/-to Rs. 20,52,07,230/-consisting of 2,05,20,723 equity shares of Rs. 10/- each and now there is noconvertible warrant in the Company.
The current market cap of the company is Rs78.72cr.
At around 1:45 PM, Archit Organosys was trading at Rs45.40 per piece down by Rs0.85 or 1.84% on Sensex.