Hindalco Industries allots shares and warrants to IGH Holdings Pvt Ltd

The Committee of the Board of Directors (CoD) of Hindalco Industries Ltd at its meeting held on April 11, 2007 has passed the following resolutions:

1. Allotment of 316,191 Equity Shares of Rs 1/- each (paid value of Re 0.50 per share) of the Company for entitlement of Right Shares kept in abeyance due to court matters.

2. Allotment of 67,500,000 Equity Shares Rs 1/- each fully paid of the Company on a Preferential allotment basis to M/s IGH Holdings Pvt Ltd in terms of resolution passed by members of the Company in their meeting held on March 28, 2007 and Chapter XIII of SEBI (Disclosure & Investor Protection) Guidelines, 2000.

Further the company has informed that the Committee of the Board of Directors of the company in the same meeting also allotted 80,000,000 Warrants convertible into Equity Shares of Rs 1/- each at a premium of Rs 172.87 to M/s IGH Holdings Pvt Ltd.

The holder of each warrant has right to subscribe and apply for and obtain allotment of one equity share against such warrant at any time after the date of allotment but on or before the expiry of 18 months from the date of allotment, in one or more tranches.

Source : Equity Bulls

Keywords