Bank of Rajasthan to issue shares on Preferential basis

Bank of Rajasthan Ltd has announced that the Shareholders at the Extra Ordinary General Meeting (EGM) of the Company held on January 11, 2008, have approved the issue of 135 lac equity shares at a price of Rs 200/- per share and 100 lac warrants @ Rs 202/- per warrants .

Glasia Mauritius II Ltd., (Avenue Capital Group) will be issued 65,00,000 Shares at an Offer Price per equity shares / warrant of Rs 200/-

BNP Paribas S.A. will be issued 70,00,000 Shares at an Offer Price per equity shares / warrant : Rs 200/-.

Shree Naman Developers Ltd will be allotted 35,00,000 warrants at an Offer Price per equity shares / warrant : Rs 202/-

Darashaw & Company Ltd will be issued 65,00,000 warrants at an Offer Price per equity shares / warrant : Rs 202/-

The price calculated as per clause 13.1.1.1 and clause 13.1.2.1 of chapter XIII of SEBI (Disclosure & Investor Protection) Guidelines, 2000 for preferential issue of equity shares and warrants comes to Rs 182.44 per share / warrant.

The shareholders also increased the ceiling limit of investment of FIIs & NRIs to 49% of the total paid up capital of the Bank.

Source : Equity Bulls

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