West Coast Paper Mills to allot 11,76,470 warrants at Rs.425

West Coast Paper Mills Ltd has announced that the Board of Directors of the Company at its meeting held on September 03, 2007, has decided to allot 11,76,470 warrants at a price of Rs 425/- per warrant, amounting to Rs 50 Crores to the entities in the Promoter Group (SK Bangur Group). Each Warrant will be convertible into equity shares of Rs 10/- each at a premium of Rs 415/- per equity share. The appropriation of warrant amount towards equity share capital and share premium will be adjusted against sub-division of shares or for any other corporate action to be taken later on.

Source : Equity Bulls

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