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Religare Enterprises has said that its board of directors on Monday made allotment of 1.30 crore equity shares at ₹52.30 each to warrant holders (Finmart Private Ltd, Puran Associates Private Ltd, Darshankumar Naranbhai Patel, Arati Babubhai Patel, Manan Arati Patel and Bhavnaben Darshanbhai Patel) who had exercised the rights to convert the warrants that were alloted to them on April 19, 2018.
Following the allotment, the paid-up capital of the company increased to ₹229.96 crore. Shares of Religare Enterprises slumped 4.99 per cent to ₹44.20 on the NSE.
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