Aarti Industries forfeits 10,71,700 warrants

Aarti Industries Ltd has announced that the Board of Directors of the Company at its meeting held on June 19, 2007 has forfeited 10,71,700 Warrants issued on preferential basis on December 13, 2005 with a right to convert each warrant into 2 equity shares of Rs 5/- each at an effective price of Rs 68.50 per share (after sub-division) upon non-exercise of conversion rights by the holders thereof on or before June 12, 2007.

Related amount of Rs 1,46,82,290/- paid for the said warrants has also been forfeited by the Company.

Source : Equity Bulls

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