Sun Pharma Advanced Research : Outcome of committee meeting
November 08, 2022 at 03:14 am EST
Share
SPARC/Sec/SE/2022-23/069
November 08, 2022
National Stock Exchange of India Ltd.,
BSE Limited,
Exchange Plaza, 5th Floor,
Market Operations Dept.
Plot No. C/1, G Block,
P. J. Towers,
Bandra Kurla Complex,
Dalal Street,
Bandra (East), Mumbai - 400 051.
Mumbai - 400 001.
Ref: Scrip Code: NSE: SPARC; BSE: 532872
Dear Sir/ Madam,
Sub: Intimation of Outcome of the meeting of the Securities Allotment Committee held today i.e. on November 08, 2022 in terms of Regulation 30 read with Schedule III of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
We refer to our letter dated July 08, 2021 bearing reference no. SPARC/Sec/SE/2021-22/32, whereby an intimation was made w.r.t. allotment of 6,24,74,082 warrants, each convertible into or exchangeable for one fully paid up equity share of Re. 1 each of the Company, at an issue price of Rs. 178/- on preferential basis to 31 allottees (warrant holders), as per the list forming part of the said letter.
Pursuant to the provisions of the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2018, the warrant holders had paid 25% (Rs. 44.50/- per warrant) of the issue price of the warrant as the warrant subscription price. The balance 75% (Rs.133.50/- per warrant) of the issue price of warrants was to be paid at the time of exercise of option to apply for fully paid -up Equity shares of Re. 1/- each of the Company, against each such warrants held by the warrant holders.
In view of above and upon receipt from seven warrant holders, a written notice and balance 75% (at the rate of Rs. 133.50/- per warrant) payment for the warrants so opted for conversion, the Securities Allotment Committee of the Company at its meeting held today i.e. November 08, 2022 has allotted 34,50,501 equity shares of Re. 1/- each, upon conversion / exchange of equal number of warrants, as per the details given below:
Name of the Allottee
No. of
Warrant Exercise
No. of equity
warrants
Price Received
shares allotted,
opted for
(@ Rs.133.50 per
upon conversion /
conversion
warrant)
exchange of
Warrants
University of Notre Dame DU Lac
1538033
20,53,27,405.50
1538033
Jash Choraria
561797
7,49,99,899.50
561797
The Ram Fund, L.P.
474269
6,33,14,911.50
474269
GP Emerging Markets Strategies, L.P.
441123
5,88,89,920.50
441123
Massachusetts Institute of Technology
179775
2,39,99,962.50
179775
Pragma Fund SPC- Equities Segregated
171235
2,28,59,872.50
171235
Portfolio
Ashish Maheshwari
84269
1,12,49,911.50
84269
The new equity shares so allotted, shall rank pari passu with the existing equity shares of the Company.
Post the above allotment, the paid up capital of the Company has increased from Rs. 27,18,78,966 (27,18,78,966 equity shares of face value of Re. 1/- each fully paid up) to Rs. 27,53,29,467/- (27,53,29,467 equity shares of face value of Re. 1/- each fully paid up).
Consequent to the above allotment, Shanghvi Finance Private Limited (SFPL) has ceased to be the Company's Holding Company as its percentage shareholding in the Company has reduced from 50.47% to 49.84%. The number of shares held by SFPL in the Company remain unchanged.
The meeting of the Committee commenced at 13:00 hours and concluded at 13:20 hours
Sun Pharma Advanced Research Company Limited published this content on 08 November 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 08 November 2022 08:13:03 UTC.
Sun Pharma Advanced Research Company Limited is an India-based clinical-stage bio-pharmaceutical company. The Company is in the business of research and development (R&D) of pharmaceutical products to unmet medical needs in the areas of oncology, neurodegeneration and immunology. The Company develops New Chemical Entities (NCE), New Biological Entities and reformulated products. Its NCE includes SCC-138, SCO-088, SCO-120 and SCD-044. Its Novel Drug Delivery Systems (NDDS) include Wrap Matrix Technology, Lipexelle technology and TearAct Technology. Wrap Matrix technology is useful to develop controlled release tablets. It has developed Elepsia XR using Wrap MatrixTM technology. Lipexelle technology for ophthalmic formulations. It has also developed Xelpros, a BAK free latanoprost eye drop developed using Lipexelle technology. Xelpros is commercialized by its partner in the United States. It has also developed PDP-716 eye drops for treatment of Glaucoma based on its TearAct technology.
SUN PHARMA ADVANCED RESEARCH COMPANY LIMITED 