Stone India to allot 1410000 warrants

Stone India Ltd has announced that the Board of Directors of the Company at its meeting held on July 29, 2008, inter alia, has recommended the proposal to offer for subscription and allot upto 14,10,000 fully convertible warrants on preferential basis to promoters / promoters group and other investors, with an option to the warrant holders to acquire, for every warrant, one fully paid up equity share of Rs 10/- each of the Company at a price not less than Rs 88/- per equity share, being the price determined in accordance with the "Guidelines for Preferential Issue" issued by SEBI under the SEBI (Disclosure and Investor Protection) Guidelines, 2000, subject to the approval by the members in the next Annual General Meeting and such other approvals as may be required.

Source : Equity Bulls

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