IG Petrochemicals EGM approves issue of warrants

IG Petrochemicals Ltd has announced that the members at the Extra Ordinary General Meeting (EGM) of the Company held on January 09, 2008, have passed the Special Resolution to offer, issue and allot 15,00,000 share warrants at a price of Rs 77.50 per warrant to M/s. Financierings Maatschappji voor Ontwikkelingslanden N V (FMO) to be converted into 15,00,000 equity shares of Rs 10/- each at a premium of Rs 67.50 per equity share in the ratio of 1:1 within a period of 18 months from the date of allotment of share warrants.

Source : Equity Bulls

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