Ispat Industries EGM approves issue of securities

Ispat Industries Ltd has announced that the members at the Extra Ordinary General Meeting (EGM) of the Company held on March 29, 2008, have approved issue of Equity Warrants, on preferential basis, to the eligible promoters, entitling them to apply for equity shares, not exceeding 5% of the post-issue voting rights, in aggregate, in any financial year.

The pricing of equity shares, arising out of exercise of rights attached to the aforesaid Equity Warrants, has been determined at Rs 43.89 each, in terms of the applicable Guidelines for Preferential Issues contained in Chapter XIII of Securities and Exchange Board of India (Disclosure and Investor Protection) Guidelines, 2000.

Source : Equity Bulls

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