Noida Medicare to allot 50 lakhs warrants

Noida Medicare Centre Ltd has announced that the Board of Directors of the Company at their meeting held on October 14, 2008 have passed resolution for allotment 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 allotment of 10 lakhs and 2 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 provision of chapter XIII A of SEBI (DIP) guidelines 2000.

Source : Equity Bulls

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