Granules India to issue shares and warrants

Granules India Ltd has announced that the Board of Directors of the Company at its meeting held on January 19, 2006, inter alia, has considered & approved the following:

1. Allotment of 1,94,037 shares to Mr. C Krishna Prasad, Managing Director and Promoter of the Company against conversion of 1,94,037 warrants out of 13,55,000 warrants issued on preferential basis.

2. Issue of 16,00,000 warrants convertible into 16,00,000 equity shares of Rs 10/- each of the Company, on preferential basis to the promoters of the Company, subject to the approval of the shareholders at the General Meeting.

Source : Equity Bulls

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