IOL Chemicals to issue shares on preferential basis at Rs.42

IOL Chemicals & Pharmaceuticals Ltd has announced that subject to the approval of shareholders the Board of Directors of the Company at its meeting held on April 07, 2007 has approved the issue upto 15,00,000 Equity Shares to the promoter and other promoters group entities as defined under the SEBI guidelines and upto 11,00,000 Equity Shares to M/s. Chamunda Traders Pvt Ltd, a non promoter entity on preferential basis at the rate of Rs 42 per share (face value of Rs 10 and premium of Rs 32 per share) or the price to be determined as per SEBI guidelines.

Source : Equity Bulls

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