On receipts of subscription price equivalent to 25% of the issue price (Issue price being Rs.16 per warrant), the Allotment Committee (Warrants) of Board of Directors at their meeting held on 30th October,2017 had allotted 4,50,00,000 (Four Crore Fifty Lakh Only) Warrants to the following allottees:
Name Group Convertible Warrants
MN Ventures Private Limited (Promoter/Promoter Group) - 75,00,000
NextWave Communications Private Limited (do) - 75,00,000
Keventer Capital Limited (Non-Promoter Group) - 1,00,00,000
Shri Shankar Sharma (do) - 1,00,00,000
Shri Devashish Poddar (do) - 50,00,000
Shri Ayush Poddar (do) - 25,00,000
Smt. Mansi Poddar (do) - 25,00,000
As per the Company's announcement it has received balance 75% of the issue price from the holders of 3,50,00,000/- Warrants and allotted the Equity shares but now only one allottee named Mr.Shankar Sharma holding 1,00,00,000 Warrants is yet to pay balance 75% which I think he may pay before April 30 2019 in terms of the allotment.
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