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Mumbai, Dec 24

The board of Ispat Industries has approved issue of share warrants, carrying a right to convert into equity shares, to the promoter group, on a preferential basis, not exceeding five per cent of the post-issue voting rights in any financial year up to 18 months from the date of allotment. The proposed issue of share warrants shall be subject to approval by the shareholders. The holders of the share warrants shall have the right to subscribe to one equity share against each share warrant held, any time within a period of 18 months from the date of allotment of the warrants, the company told the BSE. On Monday, the company’s stock on BSE closed flat at Rs. 82.15.

– Our Bureau

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Ispat to issue share warrants

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