Borosil Glass Allots 179390 Shares to promoter companies

Borosil Glass Works Ltd has announced that the ‘Share Allotment Committee’ of the Board of Directors of the Company, at its meeting held on March 24, 2007 has allotted 179390 Equity Shares of Rs 10/- each at a premium of Rs 266.50 per share to the promoter companies on Preferential basis, on exercise by them, the right attached to the Warrants issued to them on January 17, 2007. The said Equity Shares shall rank pari-passu in all respects with the existing Equity Shares of the Company. However, the said shares shall be subject to lock-in for a period of three years from the date of allotment of Warrants in accordance with the SEBI (DIP) Guidelines for Preferential Issues.

Source : Equity Bulls

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