Techno Electric allots equity shares and warrants

Techno Electric & Engineering Company Ltd has announced that the Board of Directors of the Company at its meeting held on November 22, 2006 has allotted Equity Shares and Warrants as per the details given below in terms of Guidelines for Preferential Issues under SEBI (Disclosure & Investor Protection) Guidelines, 2000 as amended, Guidelines issued by Reserve Bank of India, Government of India and other applicable laws:

- To Citigroup Venture Capital International Growth Partnership Mauritius Ltd, a Company incorporated in Mauritius - 79,34,600 equity shares at a price of Rs 70/- per equity share (Including a premium of Rs 68/- per equity share) and 7,93,460 warrants, having a currency period of 18 months and each warrant providing the holder with the option to subscribe to one fully paid-up equity share of the Company for every warrant aggregating to 7,93,460 equity shares at a price of Rs 80/- per equity share.

- To Gautam Nayak and Keshav Bhujle, the Trustees, in their capacity as Trustees of (i) Growth Partnership Ajay Relan Co-Investment Trust, (ii) Growth Partnership P R Srinivasan Co-Investment Trust, (iii) Growth Partnership Vinayak Shenvi Co-Investment Trust, (iv) Growth Partnership J K Basu Co-Investment Trust, and (v) Growth Partnership Vivek Chhachhi Co-Investment Trust - 65,400 Equity Shares at a price of Rs 70/— per Equity Share (including a premium of Rs 68/- per Equity Share) and 6,540 Warrants, having a currency period of 18 months and each Warrant providing the holder with the option to subscribe to one fully paid-up Equity Share for every Warrant aggregating to 6,540 Equity Shares at a price of Rs 80/- per equity share.

- To Checons Ltd, promoter group Company - 8,00,000 Warrants, having a currency period of 18 months, and each Warrant providing the holder with the option to subscribe to one fully paid-up Equity Share for every Warrant aggregating to 8,00,000 Equity Shares at a price of Rs 80/- per equity share.

Source : Equity Bulls

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