Exclusive: Dunzo Issues INR 19.5 Cr Worth Warrants To BCCL
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India, Sept. 25 -- Bengaluru-based hyperlocal delivery startup Dunzo has allotted warrants to Bennett Coleman and Company Ltd (BCCL).
According to regulatory filings accessed by Inc42, Dunzo is allotting 5 warrants valued at INR 19.5 Cr at a subscription amount of INR 1.95 Cr to BCCL. BCCL will be holding 0.90% on a fully diluted basis in Dunzo. Dunzo is also allotting one equity share at an issue price (including premium) of INR 1.13 Lakh to BCCL.
The filings reveal that BCCL can exercise the warrant amount in six years and can get an equivalent number of fully paid up equity shares of Dunzo.
For the uninitiated, a share warrant gives the holder the right to purchase a company's stock at a specific price and at a specific date. This i...
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