Priyadarshini Spinning Mills Ltd has announced that the Board of Directors of the Company at its meeting held on August 29, 2007 has allotted 10,00,000 warrants convertible each warrant into one equity share of Rs 10/- each at a premium of Rs 15/- per share aggregating to Rs 2,50,00,000/- to the promoters / promoter group on preferential basis.