International Combustion (India) has stated that a meeting of the board of directors of the company will be held on 20 December 2005, to consider the allotment of 1,12,000 equity shares at a price of Rs 178 per share to promoters in conversion of the 1,12,000 warrants of the first tranch of the 2,30,000 warrants issued to them on a preferential basis.