United Phosphorus allots 3,11,70,000 warrants

United Phosphorus Ltd has announced that the Committee of the Board of Directors (CoD) of the Company at its meeting held on October 25, 2007, has allotted 3,11,70,000 warrants by way of preferential issue to Demuric Holdings Pvt Ltd an entity in the promoter group of Company, entitling them to apply for an equivalent number of fully paid up equity shares of Rs 2/- each at the price of Rs 340/- per share in one or more tranches at any time during 18 months from the date of issue. The Company has received 10% of the issue price from the allottee.

Source : Equity Bulls

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