DCM Shriram Industries allots 455000 equity shares

DCM Shriram Industries Ltd has announced that the Committee of Directors, authorised by the Board of Directors, have allotted 4,55,000 equity shares of Rs 10/- each at a premium of Rs 80/- per equity share to the specified entities of the Promoters / Promoter group / Persons Acting in Concert with them against the Warrants, out of the second tranch, as per the Special Resolution dated November 26, 2007. These shares shall rank pari-passu with the existing equity shares in the Company in all respect and shall be locked-in in terms of Chapter XIII of the SEBI (DIP) Guidelines.

After the above allotment, the Promoter group holding during the financial year ending on March 31, 2008 has gone-up from 32.46% to 37.30% i.e. by 4.84%.

Source : Equity Bulls

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