Financial Daily from THE HINDU group of publications
Saturday, Oct 01, 2005
Financial Daily from THE HINDU group of publications Saturday, Oct 01, 2005 |
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Markets
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Preferential Allotments Anant Raj Industries allots shares to foreign, domestic investors Our Bureau
Mumbai , Sept. 30 ANANT Raj Industries, a ceramic tile manufacturer, has allotted 25 lakh equity shares and 15 lakh convertible warrants, on preferential basis to foreign and domestic investors. The preferential issue of 25 lakh equity shares at a price of Rs 175 per share has been subscribed by Sonata Investments (15 lakh equity shares), Lloyd George Investment Management (Bermuda) Ltd (five lakh equity shares) and Citigroup Global Markets Mauritius Private Ltd (five lakh equity shares). The proceeds against the preferential issue of the shares, aggregating Rs 43.75 crore, have been received, the company said in a release. The 15 lakh warrants, with an option to convert into equivalent number of equity shares at Rs 175 per share, have been issued to Indian corporate bodies. The warrants have been issued against payment of Rs 18 per warrant aggregating Rs 2.70 crore. Upon conversion of these warrants into fully paid-up equity shares, the company will receive an additional sum of Rs 23.55 crore. The proceeds of the preferential issue will be used towards real estate development, hospitality services and other ongoing projects, the release said.
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