Everest Organics Allots Equity Shares After Conversion of Convertible Warrants by Promoter
Everest Organics Limited has completed the allotment of equity shares following the conversion of convertible warrants held by its Managing Director and Promoter, Dr. Sri Kakarlapudi Sirisha. The allotment includes 2,63,157 fully paid-up equity shares.The Board of Directors approved this allotment, resulting in a total consideration amount of Rs 3,99,99,864/-. These shares were allotted at an issue price of Rs 152/- per Equity Share, which includes a premium of Rs 142/-, with the face value set at Re 10/- each.
The transaction involved the receipt of the balance 75% consideration for the shares upon conversion. The details of the allotment are summarized below:
| Particulars | Details |
|---|---|
| Name and Category of Allottee | Dr. Sri Kakarlapudi Sirisha, Managing Director & Promoter |
| Total Equity Shares Allotted | 2,63,157 |
| Issue Price per Share | Rs 152/- (including a premium of Rs 142/-) |
| Face Value per Share | Re 10/- |
| Total Amount Received | Rs 3,99,99,864/- |
The allotment is part of the conversion of convertible warrants originally allotted on January 13, 2025. The equity shares allotted in this process will rank pari-passu with the existing Equity Shares of Everest Organics Limited. As required for a Promoter allottee, these shares are subject to a lock-in period of 18 months from the date of trading approval granted by BSE.
The company further noted that it shall separately apply to BSE for listing and trading approval of the newly allotted equity shares.
Stock Price Movement
Everest Organics Ltd settled at ₹312.05 on Friday, rising 1.93% as the shares closed stronger after a positive session. The stock demonstrated volatility during the trading day, ranging between a low of ₹295.00 and an intraday high of ₹314.85.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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