Gujarat NRE Coke to allot Debentures worth Rs 100 Crores

Gujarat NRE Coke Ltd has announced that the Board of Directors of the Company at its meeting held on March 27, 2008, inter alia, approved the allotment of Secured Non-Convertible Redeemable Debentures amounting Rs 100 crores to Axis Bank Ltd.

Allotment of 25,00,000 Equity shares of Rs 10/- each at a price of Rs 120/- each (including a premium of Rs 110/- per share) consequent upon exercise of option to convert Warrants by M/s. Vartika Traders Pvt Ltd.

Source : Equity Bulls

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