Financial Daily from THE HINDU group of publications
Sunday, May 16, 2004
Financial Daily from THE HINDU group of publications Sunday, May 16, 2004 |
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Corporate
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Preferential Allotments Welspun shares for promoters Our Bureau
MUMBAI : Welspun India Ltd has informed the Bombay Stock Exchange that pursuant to its extraordinary general meeting (EGM) held on April 30, 2004 and subject to the necessary approvals including regulatory approvals, the board of directors has decided to issue equity shares to promoters . The promoters, Welspun Wintex Ltd and Welspun Mercantile Ltd, have agreed to subscribe to 25,98,930 equity shares and warrants carrying option to the holders to subscribe to 27,03,004 equity shares at Rs 95 per share. Welspun India also decided to issue 78,57,974 equity shares and warrants carrying option to the holders to subscribe to 8,73,108 equity shares at Rs 85.90 per shareto Western India Trustee & Executor Company Ltd (India Advantage Fund II managed by ICICI Venture Funds Management Company Ltd). A subscription agreement for the same was approved and executed. The option attached to these warrants shall be exercisable within 18 months from the date of allotment.
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