Khaitan Electricals to issue warrants, equity shares

Khaitan Electricals Ltd has announced that the Company's Board in its meeting has accorded its approval to Issue 10,00,000 Equity Share warrants to Promoters and 25,00,000 Equity Shares to Prospective Investors, subject to requisite approvals.

Khaitan Electricals Ltd has announced that an Extra Ordinary General Meeting (EGM) of the members of the Company will be held on November 29, 2006, to offer/issue/allot to one or more or all of the proposed promoter 10,00,000 Equity Share Warrants of the Face Value of Rs 10/- each at a premium Rs 121/- each Total Rs 131/- per Share Warrant for cash for subscription on preferential basis and to one or more or all the proposed Prospective Investors hereunder 25,00,000 Equity Shares of the Face Value of Rs 10/- each at a premium of Rs 121/- per share Total Rs 131/- for cash for subscription on preferential basis, subject to necessary provisions & approvals.

Source : Equity Bulls

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