Balaji Distilleries approves issue of 9 Crore warrants

Balaji Distilleries Ltd has announced that pursuant to in-principle approval obtained from the Stock Exchange for the issue and allotment of convertible warrants and subsequent receipt of 10% (i.e. Rs 1.378 per warrant) of the price fixed and payable at the time of allotment from the investors as per the requirements of SEBI Guidelines on preferential issue, to the following investors, the Board of Directors of the Company at its meeting held on December 20, 2007 has considered and approved the allotment of 9 crore convertible warrants :

1. Viki Investments & Properties Pvt Ltd : 3,00,00,000 No of Warrants

2. Mighty Agro Tech (India) Ltd : 3,00,00,000 No of Warrants

3. Hiwide Enterprises Pvt Ltd : 3,00,00,000 No of Warrants

Source : Equity Bulls

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