Bodal Chemicals updates on Rights Issue

Bodal Chemicals Ltd has announced that the Board of Directors of the Company at its meeting held on March 16, 2007, the following business was transacted in relation Right issue:

Issue 52,01,352 Equity Shares of Rs 10/- each for cash at a premium of Rs 10/- per share ("The Issue") aggregating to Rs 10,40,27,040 on a rights basis to the existing equity shareholders / beneficial owners of the Company in the ratio of 1 equity shares for every 2 equity shares (resulting fractional entitlements, if any, rounded off to the next higher integer), held, Record date (declared latter on with each equity shares so offered (on right basis) having attached to itself, a warrant conferring entitlement on the holder thereof to get allotted 1 equity shares of Rs 10 for cash at a premium of Rs 10/- per share, on payment Rs 20/- per warrant and against surrender and cancellation of the warrant between April 01, 2008 and April 30, 2008, aggregating to Rs 10,40,27,040/- on exchange of all the warrant.

Source : Equity Bulls

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