Garments and apparel company Lorenzini Apparels has informed exchanges that its board has approved the allotment of conversion of 1,48,340 warrants into 1,48,340 equity shares of face value of Rs 1 each.

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"Considered and approved the allotment of conversion of 1,48,340 warrants into 14,83,400 equity shares of face value of Rs. 1/- each, out of the 10,38,371 warrants allotted on October 5, 2023 on preferential basis, upon receipt of an amount aggregating to Rs. 2,25,00,211.2," the company said in an exchange filing.

Consequent to today's conversation of warrants/allotment of equity shares 2,47,230 warrants remain pending for conversion. The new equity shares so allotted, shall rank pari-passu with the existing equity shares of the company. 

It is to be noted that warrants had been allotted on October 5, 2023 carrying a right to subscribe to equity share per warrant on receipt of amount at the rate of Rs 202.24 per warrant.

Earlier, the company informed exchanges that over 5 crore bonus shares are now listed on the BSE and National Stock Exchange of India Limited (NSE).

"Listing of issue of 55299841 Equity Shares of Re 1 each allotted under a bonus issue made by the company," the company said in a filing.