Lorenzini Apparels Ltd.(BSE: 540952, NSE: LAL), a prominent player in the realm of manufacturing, designing, and marketing readymade garments, has announced that it its board will meet to consider and recommend to the shareholders for their approval, issue of bonus shares in the ratio of 1:1 to the Equity Shareholders of the Company by capitalization of reserves.
Recently, the company has approved the conversion of 1,48,340 warrants into 14,83,400 equity shares of face value of Rs. 1/- each, out of the 10,38,371 warrants allotted on October 5, 2023 on preferential basis, upon receipt of an amount aggregating to Rs. 2.25 Cr for warrants from the Orchard Road Properties Private Limited/
Earlier, the company had approved the conversion of 2,47,230 warrants into 2,47,23,00 equity shares of face value of Rs. 1/- each, out of the 10,38,37,10 warrants allotted on October 5, 2023 on preferential basis, upon receipt of an amount aggregating to Rs. 3,74,99,846.4 (being 75% of the issue price per warrant) from Kiwi Dealcom Private Limited.