Bhagyanagar India to issue 1.15 Crores Warrants at Rs.44

Bhagyanagar 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 issue of 1,15,00,000 share warrants of Face Value of Rs 2/- each at a price of Rs 44/- on preferential basis to the following investors as mentioned in the table below, subject to the approval of Shareholders at the Extraordinary General Meeting Scheduled to be held on October 13, 2007. The price of issue of Share Warrants is in accordance with the provisions of Chapter XIII of SEBI (Disclosure and Investor Protection) Guidelines, 2000 and the Relevant Date for the above purpose is September 13, 2007.

1. M/s. Foster Capital Ventures Ltd (Non-Promoter) : 72,00,000 No. of Warrants to be allotted.

2. M/s. Trimurthi Advisory Services Pvt Ltd (Non-Promoter) : 3,00,000 No. of Warrants to be allotted.

3. M/s. Bhagyanagar Ventures Ltd (Promoter) : 40,00,000 No. of Warrants to be allotted.

The stock was trading at Rs.49, down by Rs.2 or 3.92%. The stock hit an intraday high of Rs.52.50 and low of Rs.49. The total traded quantity was 91807 compared to 2 week average of 181574.

Source : Equity Bulls

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