Filatex India allots equity and preference shares

Filatex India Ltd has announced that the Board of Directors of the Company at its meeting held on September 18, 2007, inter alia, has approved the following:

1. Allotment of 1,25,00,000 Non - Convertible Cumulative Redeemable Preference Shares of Rs 10/- each lo IDBI Ltd pursuant to the Negotiated Settlement of Dues with them.

2. Allotment of 8,41,397 Equity Shares of Rs 10/- each to IDBI Ltd at a price of Rs 23.77 per Share by way of Preferential issue pursuant to the Negotiated Settlement of Dues with them in accordance with the SEBI Guidelines in this regard.

3. Allotment of 40,00,000 Equity Shares of Rs 10/- each to Somerset India Fund, Dufflaghur Investments Ltd and Mr. Ashwani Khurana at a price of Rs 25 per Share by way of Preferential issue in accordance with the SEBI Guidelines in this regard.

Source : Equity Bulls

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