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Chennai, Jan. 6

The promoters of Apollo Hospitals Enterprise Ltd are to be issued 15.5 lakh warrants convertible into equity shares, the company has said. The conversion price will be "in accordance with SEBI guidelines''. The warrants could be converted into shares at the option of the warrant holder within 18 months from the date of allotment. In June 2006, the promoters had similarly been offered 12.5 lakh warrants that could convert into equity shares for Rs 499 a share. In the following month, Apollo said that the promoters "have not taken up the offer". They had then said that it would wait for a better time to raise their holdings in the company. In June 2005, the promoters had been issued 10.39 lakh convertible warrants.

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