Subex Azure promoters' holding to rise

The promoters' share holding in telecom products company Subex Azure is set to increase with the firm allotting 18 lakh shares to Subex Holdings Private, the promoter company and 4.3 lakh warrants to Sudeesh Yezhuvnath, belonging to the promoter group.

The company has informed the Bombay Stock Exchange that the allotment has been made on a preferential basis at a price of Rs 630.31 per share, which includes a premium of Rs 620.31 per share.

As per the release, the holder of each warrant has the right to subscribe and apply for and obtain allotment of one equity share against each warrant at any time after the date of allotment but on or before the expiry of 18 months from the date of allotment, in one or more tranches.