Baba Arts allots 400000 equity shares

Baba Arts Ltd has announced that the Board of Directors of the Company vide Circular Resolution effective July 11, 2008 have allotted 4,00,000 equity shares of Rs 4/- each for cash at a premium of Rs 40/- per share (total price of Rs 44/- per share) to the persons belonging to promoter group against exercise of Optionally Fully Convertible Warrants held by them.

Shri. Gordhan P Tanwani was allotted 1,00,000 shares and Shri. Raju P Tanwani was allotted 3,00,000 shares.

Source : Equity Bulls

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