Borosil Glass to issue 5,34,850 warrants at Rs.276.5

Borosil Glass Works Ltd has announced that the Board of Directors of the Company at its meeting held on December 11, 2006 has decided the following:

1. To issue of 5,34,850 Warrants carrying a right to subscribe to equal number of Equity Shares in the Company, to the Promoter Companies, on Preferential basis, @ Rs 276.50 per warrant, subject to approval of the shareholders.

2. To convene an Extraordinary General Meeting of the members of the Company on January 04, 2007 to seek their approval to the above proposal (notice being sent separately, which contains detailed terms of the issue).

The Board also discussed in general the feasibility of setting up of the Company's new project at Uttaranchal.

Source : Equity Bulls

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