RTS Power to allot 20,00,000 warrants at Rs.96

RTS Power Corporation Ltd has announced that the Board of Directors of the Company at its meeting held on October 24, 2006, has approved allotment of 20,00,000 Fully Convertible Warrants to the Promoter and to two Independent 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 for cash, at a price of Rs 96/- per Equity Share of Rs 10/- each of the Company, in one or more tranches, before the expiry of 18 months from the date allotment of Warrants i.e. October 24, 2006, as per details below:

1. M/s Bhutoria Transformers & Rectifiers Pvt Ltd: 3,00,000 no. of warrants.

2. M/s sharp Investments Ltd: 7,00,000 no. of warrants.

3. M/s Agartala Cotton Company Pvt Ltd: 10,00,000 no. of warrants.

Source : Equity Bulls

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