Electrotherm India to issue shares, warrants

Electrotherm India Ltd has announced that the Board of Directors of the Company at its meeting held on March 10, 2007, has approved the following:

1. The Company has entered into Shareholders Agreement with The Western India Trustee and Executor Company Ltd (India Advantage Fund VI) acting through its investment manager ICICI Venture Funds Management Company Ltd.

2. Issue of 13,68,333 Equity Shares to The Western India Trustee and Executor Company Ltd (India Advantage Fund VI) for cash at a Price of Rs 600/- per Equity Share.

3. Issue of 9,75,000 warrants to Western India Specialty Hospitals Ltd at a price of Rs 600/- per equity share on conversion of warrants.

Source : Equity Bulls

Keywords