Steel Strips Wheels allots 347663 warrants

Steel Strips Wheels Ltd has announced that the Allotment Committee of the Board of Directors of the Company at its meeting held on January 24, 2008 have allotted 3,47,663 convertible warrants to Sh. Dheeraj Garg, Managing Director and one of the promoters of the Company, with an option to the holder of each such warrant to apply for and be allotted one fully paid up equity share of the face value of Rs 10/- each for cash at a price of Rs 170/- (Rupees one hundred and seventy only) per equity shares (i.e. at a premium of Rs 160/- per equity share), at any time not exceeding 18 months from the date of allotment of the warrants in accordance with the SEBI (DIP) Guidelines.

Source : Equity Bulls

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