Havells India to issue shares, warrants on preferential basis to Warburg Pincus Group

Havells India Ltd has announced that the Board of Directors of the Company at its meeting held on October 20, 2007, has approved the issue of Shares / Warrants on preferential basis as per the following basis to Seacrest Investment Ltd, a Warburg Pincus group Company, established in the republic of Mauritius as a private Company under the Mauritius Companies Act, having its Registered Office at Port Louis, Mauritius.

The company will issue 41,60,000 equity shares of Rs 5/- each at a price of Rs 625/- per share aggregating to Rs 2,600,000,000/-.

The company will also issue 26,00,000 warrants at Rs 690/- per warrant aggregating to Rs 1,794,000,000/- on a preferential allotment basis.

The stock was trading at Rs.632, up by Rs.23.55 or 3.87%. The stock hit an intraday high of Rs.652 and low of Rs.595.

The total traded quantity was 58807 compared to 2 week average of 196949.

Source : Equity Bulls

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