Govind Ltd. proposes to issue 20 lakh share warrants to its promotors. The share warrant gives an option to buy shares at a predetermined price. The price trend of the Company's share in the stock market is given below :

Pricing of frequently traded shares [Regulation 164(1) of SEBI (ICDR) Regulations, 2018]: If equity shares of the issuer have been listed on a recognised stock exchange for a period of 26 weeks or more as on the relevant date, the price of equity shares to be allotted pursuant to the preferential issue shall be not less than higher of the following: the average of the weekly high and low of the volume weighted average prices of the related equity shares quoted on a recognised stock exchange during the 26 weeks preceding the relevant date i.e. ₹ 275; or the average of the weekly high and low of the volume weighted average prices of the related equity shares quoted on a recognised stock exchange during the 2 weeks preceding the relevant date i.e ₹ 280 So, the price of warrant should not be less than ₹280 per share warrant.