Vijay Shanthi Builders allots 630000 shares

Vijay Shanthi Builders Ltd has announced that the Board of Directors of the Company at its meeting held on August 29, 2008, have allotted 630000 equity shares of Rs 10 each fully paid up, to the promoters on a preferential basis at a price of Rs 56 per share including premium of Rs 46 per share.

Mr. Naresh Kumar (Promoter) was allotted 315000 shares and Ms. Varsha Jain (Promoter) was allotted 315000 shares.

This allotment of equity shares has been made against convertible warrants earlier issued to them by the board in their meeting held on March 10, 2007 (Being the second tranche out of 19,06,300 convertible warrants issued on March 10, 2007).

The above said equity shares will be locked in till March 10, 2010 being three years from the date of allotment of convertible warrants.

Source : Equity Bulls

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