Bombay Rayon to issue 61,00,000 warrants

With reference to the earlier announcement dated November 07, 2006 regarding Outcome of Board Meeting, Bombay Rayon Fashions Ltd has announced that the Board of Directors inter alia, had considered and approved Issue of Equity Shares and/or Securities convertible into equity shares to Qualified Institutional Buyers in accordance with the SEBI Guidelines for Qualified, Institutions Placement, and Issue of upto 61,00,000 Warrants convertible into equivalent number of equity shares subject to the approval of the members of the Company.

Further the Company has informed that, the approval of the members shall be obtained at the ensuing Extra-Ordinary General Meeting scheduled to be held on December 05, 2006.

Source : Equity Bulls

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