Gati Board allots 115,00,000 warrants on preferential basis

Gati Ltd has announced that the Board of Directors of the Company at its meeting held on October 23, 2006, has allotted the followings on Preferential basis:

1. 10,50,000 Convertible Warrants of Rs 90/- each convertible within 18 months from the date of allotment of warrants into 10,50,000 Equity Shares of Rs 2/- each as fully paid at a premium of Rs 88/- each to The Infrastructure Fund of India LLC, Mauritius.

2. 70,00,000 Convertible Warrants of Rs 90/- each, convertible within 18 months from the date of allotment of warrants into 70,00,000 Equity Shares of Rs 2/- each as fully paid at a premium of Rs 88/- each to Mahendra Investment Advisors Pvt Ltd, a Promoter of the Company.

3. 34,50,000 Convertible Warrants of Rs 90/- each to be convertible within 18 months from the date of allotment of warrants into 34,50,000 Equity Shares of Rs 2/- each as fully paid at a premium of Rs 88/- each to Mr. Mahendra Agarwal, Promoter of the Company.

Source : Equity Bulls

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