Ranbaxy Laboratories to pick 10,50,000 shares of Krebs Biochemicals

Krebs Biochemicals & Industries Ltd has announced that the Board of Directors of the Company at its meeting held on January 15, 2007 has approved the issue of 10,50,000 equity shares on preferential basis to M/s. Ranbaxy Laboratories Ltd at a price of Rs 85/- per share (including Rs 10 nominal value and Rs 75/- premium).

The board has also approved issue of 20,00,000 warrants to promoter group and selected investors on preferential basis to be converted to 20,00,000 equity shares at a price of Rs 74.30 within a period of 18 months from the date of allotment.

The approvals of the board are subject to regulations of SEBI (Disclosure and Investor Protection) Guidelines, 2000.

Source : Equity Bulls

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