Rajesh Strips Ltd has announced that the Board of Directors of the Company at its meeting held on March 25, 2009, inter alia, has allotted 2,20,00,000 (Two Crores Twenty lacs) 8% Redeemable Non-Convertible Non-Cumulative Preference Shares of Rs 10/- each to M/s. Escort Finvest Pvt. Ltd, Kolkata in confirmation with resolution passed by shareholders in EGM dated March 23, 2009.