TIL to issue 2993842 warrants to promoters

TIL Ltd has announced that the Board of Directors of the Company at its meeting held on November 04, 2007, has approved the following:

1. Alteration of Share Capital Clause of Memorandum and Articles of Association of the Company in accordance with the Company's regulations and legislative provisions.

2. Issurance of Warrants on private placement basis to the promoters and select group not exceeding 2993842 Warrants aggregating to Rs 975992492 (Rupees Ninety seven crores fifty nine lacs ninety two thousand four hundred and ninety two only) at a price of Rs 326/- per equity share (including premium of Rs 316/- per share).

Source : Equity Bulls

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