Varun Shipping Company Ltd allots shares on conversion of warrants

Varun Shipping Company Ltd has announced that consequent to the exercise of option for conversion of 11,00,000 Optionally Fully Convertible Warrants (OFCWs), out of 39,50,000 OFCWs, which were allotted on preferential basis to Tarun Shipping and Industries Ltd, a promoter group Company, the Committee of Directors (CoD) at its meeting held on March 22, 2007 has issued an allotted 11,00,000 equity shares at a price of Rs 75 per share (i.e. Rs 10 on capital account and Rs 65 on premium account) to Tarun Shipping and Industries Ltd.

Source : Equity Bulls

Keywords