Pursuant to Regulation 7(2)(b) of SEBI (Prohibition of Insider Trading) Regulations, 2015, please find enclosed disclosures received from Promoters and Promoter Group of our Company Modern ....
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Modern Dairies Ltd has disclosed acquisitions of equity shares by members of its Promoter and Promoter Group under SEBI Insider Trading Regulations. Five entities — Alka Goyal, Krishan Kumar Goyal, Krishan Goyal HUF, Mala Builders Pvt Ltd, and Chandigarh Finance Pvt Ltd — converted their Convertible Warrants into equity shares at Rs. 50 per share (face value Rs. 10, premium Rs. 40). In total, 28 lakh equity shares were allotted, with Chandigarh Finance receiving the largest tranche of 12 lakh shares. The allotments were carried out on a preferential basis as per terms of the warrants earlier issued by the company.
This is a positive signal showing promoter confidence and a deliberate increase in promoter/promoter group holding in the company. For shareholders, this indicates insider commitment, though it does not involve fresh cash infusion since the warrants were already issued earlier.