Ansal Housing allots 17 Lakh warrants at Rs 208

Ansal Housing & Construction Ltd has announced that the Board of Directors of the Company at its meeting held on January 12, 2008, has allotted 17,00,000 warrants @ Rs 208/- per warrant after receipt of 10% payment due on the warrants to the Promoters of the Company.

The shareholders at the Extra Ordinary General Meeting (EGM) of the Company held on January 12, 2008, inter alia, have approved the Private Placement of 2,25,000 Equity Shares of the Company to the Independent Parties @ Rs 225/- for an overall amount not exceeding Rs 5.625 crores (including premium).

The Private Placement of 19,50,000 warrants, each warrant convertible into one equity share to the Independent Parties @ Rs 225/- for an overall amount not exceeding Rs 43.875 crores (including premium).

The Private Placement of 10,00,000 warrants, each warrant convertible into one equity share to the Promoters of the Company @ Rs 225/- for an overall amount not exceeding Rs 22.50 crores (including premium).

Increase in Authorized Capital of the Company from Rs 25 crores to Rs 50 crores.

Source : Equity Bulls

Keywords