Rain Commodities to consider allotment of shares at Rs 200

Rain Commodities Ltd has announced that a meeting of the Board of Directors of the Company will be held on March 11, 2008, inter alia, to consider allotment of 35,00,000 Equity Shares to Focus India Brands Pvt Ltd (Promoter) at a price of Rs 200/- each (Rs 10/- face value + Rs 190/- Premium) consequent to the conversion of 35,00,000 Equity Warrants into Equity Shares.

Further the Company has informed that, these Equity Warrants were issued on November 29, 2006.

Source : Equity Bulls

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