Arihant Foundations approves issue of warrants at Rs.201

Arihant Foundations & Housing Ltd has announced that the Board of Directors of the Company at its meeting held on March 27, 2007, inter alia, has considered and approved the following:

1. Conversion of 850000 convertible warrants in to 850000 fully paid up equity shares of face value of Rs 10/- each, at an exercise price of Rs 201/- per share (including premium of Rs 191/-) and

2. Approve the allotment of 850000 fully paid up equity shares to the concerned allottees.

The above mentioned warrants were allotted on September 28, 2005 at 10% of the total exercise price.

Source : Equity Bulls

Keywords