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JM Financial Ltd. - Allotment of Warrants on a Preferential Basis

By Religare

JM Financial Ltd has informed BSE that the Allotment Committee of the Board, at its meeting held on June 27, 2013, has allotted 1,16,46,939 Warrants to the following persons.

1. Name of the Allottees - Mr. Hariharan Ramamurthi Aiyar
No. of Warrants - 58,23,470
Issue price per Warrant / Equity Share (Rs.) - 19.05
Amount of consideration received (25% of the Issue price) (Rs.) - 2,77,34,276

2. Name of the Allottees - Mrs. Aparna Murthy Aiyar
No. of Warrants - 58,23,469
Issue price per Warrant / Equity Share (Rs.) - 19.05
Amount of consideration received (25% of the Issue price) (Rs.) - 2,77,34,271

Total - No. of Warrants - 1,16,46,939
Amount of consideration received (25% of the Issue price) (Rs.) - 5,54,68,547

The above Warrants entitles the above allottees to apply for and be allotted one equity share for each Warrant held by them on payment of balance 75% of the issue price within 18 months from the date of allotment of Warrants.

Further, the Members of the Company at their Extraordinary General Meeting held on June 14, 2013 had passed the Special Resolution approving the issue of an aggregate of 2,32,93,878 Warrants on preferential basis to certain investors. The allotment of remaining 1,16,46,939 Warrants to Mr. Vikram Shankar Pandit, a Non-resident Indian, would be made upon receipt of approval of Foreign Investment Promotion Board.

Read more about: jm financial
Story first published: Friday, June 28, 2013, 9:22 [IST]
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