Shri Lakshmi Cotsyn Ltd has announced that the Board of Directors of the Company at its meeting held on March 27, 2007 has decided to convert 7 Lacs warrants of Rs 10/- each (issued earlier at a premium of Rs 119/- per warrant) into 7 Lacs equity shares of Rs 10/- each at a premium of Rs 119/- per share (fully paid-up).