Bhatinda Chemicals Ltd has announced that the Board of Directors of the Company at its meeting held on July 11, 2008, has allotted 1,38,50,000 warrants at Rs 50/- per warrant to be converted into equity shares of Rs 10/- each at a premium of Rs 40/- per share within a period of 18 months on preferential allotment basis in the capital of the Company.