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.
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