Millars India allots 13,50,000 shares on conversion of warrants

Millars India Ltd has announced that the Board of Directors of the Company at its meeting held on June 29, 2007, has approved allotment of 13,50,000 Equity Shares against 13,50,000 convertible warrants, each warrant which were carrying right to subscribe to one Equity shares of Rs 10/- each at a price of Rs 80/- (including premium of Rs 70/- per share) for cash with a paid up value of Rs 8 per warrant (being 10% of the issue price) by the following allotted namely:

1. Skyline Visions Pvt Ltd: 4,50,000 No of Convertible Warrants
2. Dave Builders Pvt Ltd: 4,50,000 No of Convertible Warrants
3. Jatin Daisaria Realtors Pvt Ltd: 4,50,000 No of Convertible Warrants

The allotment is done after the receipts of the balance amount of Rs 72/- per warrant against the said Convertible Warrants.

Source : Equity Bulls

Keywords