Sangam India Allots 31,80,444 equity shares on conversion of warrants

Sangam India Ltd has announced that the allotment committee of the Board of Directors of the Company on October 21, 2006 has allotted 31,80,444 equity shares of Rs 10/- each at a premium of Rs 36.70 per share to the following on conversion of 31,80,444 warrants issued on August 06, 2005, which are convertible at the option of the holder in 1 equity share of the face value of Rs 10/- for each warrant:

1. Name of the Allottees: Badrilal Rampal Soni HUF
No. of warrants converted: 1605996
No. of equity shares allotted: 1605996

2. Name of the Allottees: Sangam Fincap Ltd
No. of warrants converted: 105995
No. of equity shares allotted: 105995

3. Name of the Allottees: Dharia Farms Pvt Ltd (Warrants transferred from Pinky Exhibitors Pvt Ltd)
No. of warrants converted: 197790
No. of equity shares allotted: 197790

4. Name of the Allottees: Western India Trustees and Executor Company Ltd (India Advantage Fund I)
No. of warrants converted: 1070663
No. of equity shares allotted: 1070663

5. Name of the Allottees: Pinky Exhibitors Pvt Ltd
No. of warrants converted: 200000
No. of equity shares allotted: 200000

The above shares have been allotted in compliance with the SEBI (DIP) guidelines. As on date after the above allotment of equity shares, the paid-up equity capital of the Company stands at Rs 37,58,03,370.

Source : Equity Bulls

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