Modern Dairies has successfully converted 86,00,000 fully convertible warrants into equity shares for the promoter group, totaling Rs. 43 Cr.

Each share was issued at a face value of Rs. 10 with a premium of Rs. 40, boosting the paid-up equity share capital from Rs. 23.32 Cr to Rs. 31.92 Cr.

The premium amount of Rs. 34.40 Cr is transferred to the reserve and surplus account, significantly strengthening the financial position and capital base.

Following this equity expansion, the promoters now hold a 60.34% stake, reinforcing their commitment and setting the stage for enhanced operational performance.