Commercial Syn Bags Ltd. Allots Equity Shares Following Warrant Conversion
Commercial Syn Bags Limited (COMSYN) announced the allotment of 3,87,000 equity shares of Rs. 10 each at a premium of Rs. 62 per share to Pravi Investments LLP, a promoter group entity. This allotment follows the exercise of convertible warrants initially issued on March 20, 2025, and the receipt of the remaining balance amount. The total consideration for the allotment amounted to Rs. 2,08,98,000.Details of the Allotment:
| Subscriber | Category | Number of Equity Shares |
|---|---|---|
| Pravi Investments LLP | Promoter Group | 3,87,000 |
| Total | 3,87,000 |
Following the conversion, Pravi Investment LLP holds 1,584,906 equity shares. A total of 1,613,000 warrants remain outstanding for conversion.
The company received intimation from the warrant holder on March 24, 2026, regarding the conversion. The total number of convertible warrants initially issued was 3,87,000, priced at Rs. 72 per warrant, with an aggregate consideration of up to Rs. 2,78,64,000.
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