Walchandnagar Industries allots 30 Lakh shares

Walchandnagar Industries Ltd has announced that the meeting of the Allotment Committee of Board of Directors of the Company held on June 07, 2008 has issued and allotted 30,00,000 (Thirty Lakhs) equity shares of Rs 2/- each (including 15,00,000 Bonus equity shares) to M/s. Kamdhenu Commercials Pvt. Ltd. a promoter group entity by way of conversion of Warrants as per the terms of the issue of the Warrants and SEBI (DIP) Guidelines.

The equity shares issued as above shall rank pari-passu in all respect 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 50.06% to 54.43%.

Source : Equity Bulls

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