CR Sukumar
March 12, 2022 / 10:56 IST
Market veteran Shankar Sharma has paid the balance 75% of money for acquiring around 1.25% stake in Hyderabad headquartered digital marketing solutions firm Brightcom Group.
Brightcom Group had in September 2021 announced a decision to allot 15 million warrants at Rs 37.77 per warrant convertible into equity shares on a preferential basis to Sharma.
Sharma was allotted 15 million warrants on January 23 against a payment of 25% of the total amount.
Brightcom Group late on March 9 informed the stock exchanges that the Warrants and Share Allotment Committee of the board approved allotting 15 million shares of the company fully paid-up to Sharma following conversion of preferential warrants into equity.
“On March 9, 2022, Mr Sharma has paid the remaining 75% of the amount to the company,” said Brightcom Group in its communique to stock exchanges.
On March 10 morning, the Brightcom shares on the Bombay Stock Exchange gained 4.97% to trade at Rs 91.90 apiece.
Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
