Medicamen Organics Makes Preferential Allotment of Convertible Warrants to Promoter

VMPL
New Delhi [India], March 18: Medicamen Organics Limited (MOL) (NSE- MEDIORG), is pleased to announce the successful allotment of 4,65,910 fully convertible warrants on a preferential basis to Bal Kishan Gupta, a promoter of the Company. Each warrant is issued at Rs64.39 and will be convertible into an equivalent number of equity shares of Rs10 each within 18 months from the date of allotment. The payment structure requires 25% of the warrant price to be paid at the time of allotment, with the remaining 75% payable upon conversion.
This strategic fund infusion underscores the promoter's confidence in the Company's future growth prospects. The capital raised through this preferential allotment will serve as a key enabler in achieving Medicamen Organics' expansion objectives and strengthening its market position.
Commenting on the development, Bal Kishan Gupta, Managing Director said, " "The pharmaceutical industry continues to grow steadily, and this capital infusion will enable us to leverage emerging opportunities while ensuring financial prudence. As a promoter, I remain highly confident in Medicamen Organics' future prospects. With this financial backing, we are committed to enhancing our competitive edge and delivering high-quality pharmaceutical solutions to the market. The Company remains focused on strategic growth, operational efficiency, and value creation for its stakeholders."
(ADVERTORIAL DISCLAIMER: The above press release has been provided by VMPL. ANI will not be responsible in any way for the content of the same)