 "Shasun board to consider conversion of warrants issued to Sequent Scientific")
The Board meeting will be held on June 8, 2015, for conversion of the warrants. The company is in the process of amalgamating itself with Strides Arcolab Ltd.
During the quarter ended June 30, 2014, the company has preferential allotment of 35,00,000 equity shares of Rs 2 each at a premium of Rs 108 per share aggregating to Rs 38.5 crore and 71,00,000 convertible warrants of Rs 2 each at a premium of Rs 108 per warrant to Sequent Scientific Ltd, Mumbai. The company has received Rs 19.53 crore, which is 25 per cent upfront issue price, towards allotment of the convertible warrants during the year.