Bhuwalka Steel allots 20 Lakh warrants

Bhuwalka Steel Industries Ltd has announced that the Board of Directors of the Company at its meeting held on March 11, 2008, inter alia, has allotted 20,00,000 warrants to Genial Finance & Investment Pvt Ltd: 10,00,000 Warrants and Purlieu Investment And Finance Pvt Ltd : 10,00,000 Warrants.

These warrant holders are entitled to apply for and obtain allotment of one equity share of Rs 10/- each at a premium of 90.20 per share (Total Rs 100.20 per share) determined as per the guidelines of preferential issue disclosed in Chapter XIII of SEBI (Disclosure and Investors Protection) Guidelines, 2000, within a period of 18 months 10% of the price fixed has been received in compliance with the said guidelines.

Issue of these warrants was approved earlier by the Board of Directors in their meeting held on January 18, 2008 and by the members in their Extra-Ordinary General Meeting held February 12, 2008.

Source : Equity Bulls

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