Berger Paints India Ltd has allotted two crore equity warrants to UK-based Jenson & Nicholson (Asia) Ltd, a part of the promoter group of the former.
Berger Paints has received an amount of Rs 9.9 crore towards 10% of the total issue price from the allottee, the company said in a statement. Jenson & Nicholson (Asia) holds 2.59 crore shares, representing 8.11% stake, in Berger.
The issue was made at a price of Rs 49.50 per warrant at a face value of Rs 2 each. The price represents a premium of about Rs 9 over the current market price, the statement said.
Once fully paid, Berger Paints will receive an amount of Rs 99 crore.
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