Rain Commodities allots 22,00,000 shares at Rs.40

Rain Commodities Ltd has announced that the Board of Directors of the Company at its meeting held on October 30, 2006, has allotted 22,00,000 Equity Shares to Meghamala Enterprises Pvt Ltd at a price of Rs 40/- each (Rs 10/- face value + Rs 30 Premium) consequent to the conversion of 22,00,000 Equity Warrants into Equity Shares.

Further the Company has informed that, these Equity Warrants were issued on May 14, 2005.

Source : Equity Bulls

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