Corporate News 02-Apr-08
Walchandnagar Industries to issue warrants
Rodin Holdings Inc
The members of Walchandnagar Industries have accorded the board to create, offer, issue and allot for cash consideration on preferential basis upto 5,25,000 warrants convertible into equity shares of the company within 18 months from the date of allotment at a price of Rs 6396 per warrant / share on preferential issue (which price shall stand adjusted appropriately after sub-division of shares and issue of bonus shares) aggregating up to Rs 335.79 crore to Rodin Holdings Inc, each warrant convertible into 1 equity share presently of Rs 10 each (equivalent to 10 equity shares of Rs 2 each after sub-division of equity shares into 5 equity shares of Rs 2 each and further issue of bonus equity shares in the ratio of 1:1 as already approved by the shareholders at the AGM held on 30 January 2008).
This was accorded at the EGM held on 04 March 2008.
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