Electrosteel Castings seeks EGM approval for issue of warrants

Electrosteel Castings Ltd has announced that an Ordinary General Meeting of the members of the Company will be held on December 29, 2007, inter alia, to offer for subscription and allot up to 2,00,00,000 convertible warrants on preferential basis to the Promoters / Promoter Group with an option to the holder of each such warrant to apply for and be allotted one equity share of Re 1/- each of the Company for cash at a price of not less than Rs 76/- per share to such extent and on such other terms and conditions as may be decided by the Board in accordance with SEBI (Disclosure and Investor Protection) Guidelines 2000, as amended, ("the Guidelines"), subject to necessary provisions & approvals.

Source : Equity Bulls

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