Garware Offshore allots 22,72,727 equity shares to India Star Mauritius Ltd

Garware Offshore Services Ltd has announced that the Allotment Committee of Board of Directors of the Company at its meeting held on November 06, 2007, issued and allotted 22,72,727 equity shares of Rs 10/- each at a price of Rs 110/- upon exercise of option of conversion into equity shares by the Debenture-holder viz. India Star (Mauritius) Ltd.

Consequent to the aforesaid allotment of equity shares, the post equity shareholding of India Star (Mauritius) Ltd including their present equity shareholding of 25,90,000 equity shares (being 12.18% of the present paid up Share Capital of 2,12,66,266 Shares) will be 48,62,725 equity shares of Rs 10/- each (being 20.66% on the enhanced Share Capital of 2,35,38,993 Shares).

Source : Equity Bulls

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