Vikas Profin Ltd has announced that the Board of Directors of the Company at its meeting held on March 05, 2008, inter alia, has allotted 2,000,000 equity shares of Rs 10/- each fully paid up of the Company at a premium of Rs 10/- on account of Conversion option being exercised by the Allottees of Convertible Warrants pursuant to the approval of the members at the Annual General Meeting held on September 29, 2007, to the persons details of which were placed in a list duly initialed by the chairman for the purpose of identification.