Vijay Shanthi allots 602200 shares at Rs 56

Vijay Shanthi Builders Ltd has announced that the Board of Directors of the Company at its meeting held on November 22, 2007, has allotted 602200 equity shares of Rs 10 each fully paid up, to the following promoters on a preferential basis at a price of Rs 56 per share including premium of Rs 46 per share:

Mr. Naresh Kumar - 301100 No of Shares - Promoter cum Director

Ms. Varsh Jain - 301100 No of Shares - Promoter

Further the Company has informed that this allotment of equity shares has been made against convertible warrants earlier issued to them by the board in its meeting held on March 10, 2007 (Being the first tranches out of 19,06,300 convertible warrants issued on March 10, 2007).

The above said equity shares will be locked in till March 10, 2008 being one year from the date of allotment of convertible warrants.

Source : Equity Bulls

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