The board of Shree Ram Mills in its meeting on 16 December 2009 has approved the allotment of 45,00,000 warrants convertible into equity shares of Rs 10 each at a premium of Rs 130 to promoters on preferential basis. The board will consider the allotment of 64,52,000 warrants to foreign investors approved as above on the receipt of due approvals from the Foreign Investment Promotion Board.
Further, the board has also approved issue of further 16 million warrants convertible into equity shares of Rs 10 each to be priced as per applicable SEBI (ICDR) Regulations, 2009 to be allotted on preferential basis to promoters, relatives and associates, and others subject to shareholders and other required approvals.
Source :www.biginfotech.in
No comments:
Post a Comment