The members have approved to issue and allot warrants upto Rs 10 crore on preferential basis entitling the warrant holder(s) from time to time, but not before 01 April 2013 to apply for equity shares in one or more tranches to be subscribed by the persons/ entities in the promoter group at a price of Rs 54.30 per warrant convertible into one equity share of face value of Rs 2 at a premium of Rs 52.30 per equity share.