Bhagyanagar India approves issue of 55 Lakh warrants

Bhagyanagar India Ltd has announced that the Board of Directors of the Company at its meeting held on January 02, 2008, has approved the issue of 55,00,000 (Fifty Five Lakhs) equity share warrants, each warrant convertible into one equity share of the Company at the option of warrant holder, at a Face Value of Rs 2/- each for cash at a price of Rs 90/- per warrant on preferential basis to the following investors as mentioned in the table below, subject to the approval of Shareholders at the Extraordinary General Meeting Scheduled to he held on January 31, 2008. The price of issue of Share Warrants is in accordance with the provisions of Chapter XIII of SEBI (Disclosure and Investors Protection) Guidelines, 2000 and the Relevant Date for the above purpose is January 01, 2008.

1. M/s. Consolidated Securities Ltd (Non-Promoter): 40,00,000 no of warrants to be allotted

2. M/s. C S K Realtors Ltd (Non-Promoter): 5,00,000 no of warrants to be allotted

3. M/s. Trimurthi Drugs & pharmaceuticals Ltd (Non-Promoter): 5,00,000 no of warrants to be allotted

4. Mr. Sunil D Parakh (Non-Promoter): 5,00,000 no of warrants to be allotted.

Source : Equity Bulls

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