NBFC firm Mufin Green approves allotment of 9.30 lakh equity shares - Check details
The warrants had an issue price of Rs 63.30 each and upon conversion, investors needed to pay the remaining balance amount i.e. Warrant Exercise Price aggregating to Rs 4,41,51,750.
Non-bank lender Mufin Green Finance has informed exchanges it has approved the allotment of 9,30,000 (Nine Lakh Thirty Thousand) equity shares with a face value of Rs 1 each through a preferential allotment.
The warrants had an issue price of Rs 63.30 each and upon conversion, investors needed to pay the remaining balance amount i.e. Warrant Exercise Price aggregating to Rs 4,41,51,750.
Following this conversion, the pre-issue equity holding of the promoter group (Hindon Mercantile Limited) has increased to 54.43 per cent (8,82,41,152 shares) from 54.17 per cent (8,73,11,152 shares).
Earlier, Muffin Green Finance issued 2.55 crore convertible warrants on December 27 which can be converted into equity shares. Muffin Green Finance had issued these convertible warrants at Rs 55 per warrant.
Mufin Green Finance is a non-banking finance company. It is focused on financing in the electric vehicle ecosystem, including two-wheelers, three-wheelers, four-wheelers, fast chargers and swappable batteries. The company has a presence in 14 states in north India.
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