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 Markets - Preferential Allotments
Bhagyanagar pref warrants

Hyderabad, Jan. 2

Bhagyanagar India Ltd has informed the BSE that the Board of Directors of the Company at its meeting on Wednesday approved the issue of 55 lakh preferential equity share warrants convertible into one equity share of the company at the option of warrant holder, at a face value of Rs 2 each for cash at a price of Rs 90 per share. This allotment of warrants on preferential basis to investors is subject to the approval of shareholders at the extraordinary general meeting scheduled for January 31, 2008. As per the proposal, Consolidated Securities Ltd would be allotted 40 lakh warrants, C.S.K. Realtors Ltd (5 lakh), Trimurthi Drugs & Pharmaceuticals Ltd (5 lakh) and Mr. Sunil D. Parakh (5 lakh) warrants respectively. - Our Bureau

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