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The members of Arihant Foundations & Housing have accorded to issue and allot 10,00,000 convertible warrants (warrants) to Kamal Lunawath (2,00,000 warrants), Vimal Lunawath (2,00,000 warrants)
Orange Infrastructure (3,00,000 warrants), Samta Jain (2,00,000 warrants), Pioneer Investcorp (1,00,000 warrants) on preferential basis each warrant convertible at the sole option of the holder at any time before the expiry of 18 months from the date of allotment into 1 fully paid up equity share of the company of face value Rs 10 each, at an exercise price of Rs 460 per share.
This was accorded at the extra ordinary general meeting held on 23 October 2007.
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