Simbhaoli Sugars to allot 31 Lakh warrants

Simbhaoli Sugars Ltd has announced that the Board of Directors of the Company at its meeting held on January 30, 2008, inter alia, has approved to issue and allotment of 19,00,000 warrants to M/s. Dholadhar Investments Pvt Ltd and 12,00,000 warrants to M/s. Pritam Singh Sandhu Associates Pvt Ltd aggregating to 31,00,000 warrants, pursuant to the Scheme approved under corporate debt restructuring arrangement (CDR). These warrants are convertible into 31,00,000 equity shares of Rs 10/- each the share capital of the Company at a price of Rs 42.55 per equity share under the provisions of SEBI (Disclosure & Investor Protection) Guidelines, 2000 for preferential issue.

Source : Equity Bulls

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