Amic Forging allots warrants to promoters and non-promoters

Amic Forging Limited's board of directors approved the preferential allotment of 65,000 convertible warrants at an issue price of INR 1,536 each, totaling INR 99,840,000. This followed a shareholders' resolution and in-principle approval from BSE Limited.

The company has received 25% of the warrant issue price, amounting to INR 384 per warrant, or INR 24,960,000 in total, as "Warrant Subscription Price." Promoters received 39,000 warrants, while non-promoters were allotted 26,000. These warrants are convertible into one fully paid-up equity share of INR 10 each upon payment of the remaining 75% of the issue price within 18 months and are subject to a lock-in period as per SEBI regulations.