The issue price of Rs 90 for the equity shares will be payable on application. For every 10 equity to be allotted on rights basis, the allottee will receive 4 detachable warrants. The price at which the detachable warrant shall be exercised will be higher of floor price being Rs 90; or 75% of the average of the daily closing price of the equity shares of the company.
This was decided at the committee of directors meeting held on 25 August 2009.