Walchandnagar Industries allots 1230690 equity shares

Walchandnagar Industries Ltd has announced that the Allotment Committee of Board of Directors of the Company at its meeting held on March 31, 2008 has issued and allotted 12,30,690 (Twelve Lakhs Thirty Thousand Six Hundred Ninety) equity shares of Rs 2/- each (including 6,15,345 Bonus equity shares issued and allotted as per the terms of the issue of the Warrants and SEBI (DIP) Guidelines) by way of conversion of Warrants to M/s. Olsson Holding Inc. a promoter group entity.

The equity shares issued as above shall rank pari-passu with the existing equity shares of the Company.

With the above allotment of shares the total promoters' holding in the Company has gone up from 48.01% to 50.06%.

Source : Equity Bulls

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