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The board of Ind Swift Laboratories has allotted 11,96,000 equity shares to promoters group upon the conversion of 11,96,000 zero coupon warrants.
The board has approved a fresh issue of 25,00,000 zero coupon optionally convertible warrants into equity shares to promoters & other bodies corporate at a price of Rs 70 per warrants.
The board has decided to convene extra ordinary general meeting on 29 February 2008 to seek their approval for the above stated preferential issue.
Further, the board has allotted 1,60,000 options to employees under ESOP of the company.
This was decided at the board meeting held on 29 January 2008.
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