Apollo Tyres Issues Warrants to Promoter Group on Preferential basis

Apollo Tyres Ltd has announced that pursuant to the authorization from Shareholders, the Committee of Directors (Funds Raising) at its meeting held on October 19, 2006 has allotted 40 lac Warrants to Promoter Group @ Rs 293/- per Warrant in accordance with the provisions of Chapter XIII of the SEBI (DIP) Guidelines, 2000.

The Warrants are convertible into equity shares of Rs 10/- each at any time before the expiry of 18th months from the date of allotment.

Source : Equity Bulls

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