Shriram City Union allots 40,00,000 shares on preferential basis at Rs.160

Shriram City Union Finance Ltd has announced that the Board of Directors of the Company at its meeting held on December 22, 2006 have allotted to Indopark Holdings Ltd 40,00,000 Equity shares of Rs 10/- each for cash on preferential basis at the rate of Rs 160/- per share (including a premium of Rs 150/- per share) being the price higher than the price determined under Chapter XIII of SEBI (Disclosure and Investor Protection) Guidelines, 2000 as amended.

With respect to the allotment of Equity Shares pertaining to Van Gogh Ltd , CPIM Structured Credit Fund A 1000 Ltd, CPIM Structured Credit Fund A 1500 Ltd, CPIM Structured Credit Fund A 20 Ltd and Warrants to Shriram Enterprise Holdings Pvt Ltd, the Board of Directors has delegated the power to allot to the Business Development Committee of Directors.

Source : Equity Bulls

Keywords