ICSA India allots warrants to Goldman Sachs International

ICSA India Ltd has announced that the Board of Directors of the Company at its meeting held on April 18, 2007, inter alia, has considered the following:

1. Allotment of 4,00,000 Fully Convertible Warrants issued at a price of Rs 1135/- (including a premium of Rs 1125/-), to Shri. G Bala Reddy, Promoter of the Company.

2. Allotment of 3,50,000 Fully Convertible Warrants issued at a price of Rs l135/- (including a premium of Rs 1125/-) to Goldman Sachs International.

The end use of proceeds raised by issue of above Warrants will be utilized towards:

(i) Infrastructure & R&D
(ii) Capital Expenditure
(iii) Working capital requirements
(iv) Acquisition of Companies Abroad

The stock closed the day at Rs.1043.45, up by Rs.2.90 or 0.28%. The stock hit an intraday high of Rs.1069 and low of Rs.1040. The total traded quantity was 3672 shares compared to 2 week average of 5914.

Source : Equity Bulls

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