Noida Medicare to issue 50 Lakhs warrants at Rs 13.50

Noida Medicare Centre Ltd has announced that the Board of Directors of the Company at its meeting held on September 03, 2008, has passed resolution for issuance of 50 lakhs warrants, each carrying option to subscribe to one number of equity share of the Company of nominal value Rs 10/- each, at a price of Rs 13.50 per share, by way of preferential allotments to promoters and other private independent investors in accordance with SEBI guidelines in this regard.

The Board of Directors have also passed resolution, for issuance of 12 lakhs fully paid equity shares, of nominal value Rs 10.00 each, at an issue price of Rs 13.50/- per equity share on preferential basis to Stressed Assets Stabilization Fund (SASF) & IFCI Ltd, respectively as per their terms and conditions for settling the outstanding dues of the Company as per the provisions of chapter XIII A of SEBI (DIP) guidelines 2000.

The above issue of shares and warrants are subject to receipt of requisite approvals.

Source : Equity Bulls

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