Indo Asian Fusegear approves allotment of 19 Lakh warrants

Indo Asian Fusegear Ltd has announced that the Board of Directors of the Company at its meeting held on June 20, 2008, has approved the allotment of 19,00,000 Zero Coupon Convertible Warrants, each Warrant convertible into one equity share of Rs 10/- each at a price of Rs 130/- inclusive of premium in accordance with SEBI (DIP) Guidelines, 2000 on preferential basis by private placement to 'promoters & other Body Corporate'.

The Promoter M/s. Hitech Engineering Corporation through its partner Mrs. Richa Mahendru was allotted 15,00,000 warrants and Other Body Corporate M/s. Pinky Exhibitors Pvt Ltd was allotted 4,00,000 warrants.

Source : Equity Bulls

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