Rajeswari Foundations Ltd has announced that a meeting of the Board of Directors of the Company will be held on October 19, 2007, to consider and make allotment of 7,95,000 warrants of Rs 10 each at a premium of Rs 13 per share on preferential basis to the promoters of the Company in terms of the Special Resolution passed by the shareholders at the Annual General Meeting held on September 26, 2007 for issuance of convertible warrants on preferential basis.