Repro India board approves preferential share allotment

The board of Repro India has approved the allotment of 5.92 lakh shares esach at a price of ₹675 apiece on preferential basis to Malabar India Fund, Malabar Value Fund and Kedia Securities Pvt Ltd. The board also approved the allotment of 5.92 lakh warrants of ₹10 each at a price of ₹675 per share to the same entities from whom the company has received 25 per cent upfront share application money on preferential basis. Consequent to the allotment, the paid-up equity shares of the company stand increased from 1.09 crore equity shares of ₹10 each to 1.149 crore equity shares. The stock of Repro India gained 1 per cent at ₹775 on the BSE.