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Rain Comm. to convert warrants

Our Bureau

Hyderabad, July 7

Rain Commodities Ltd has informed the stock exchanges that a meeting of its board of directors would be held on July 15 to consider allotment of 10-lakh equity shares to Citicorp Finance (India) Ltd at a price of Rs 40 each (including a premium of Rs 30 per share) consequent to the conversion of 10-lakh equity warrants into equity shares. The company had issued these equity warrants on May 14, 2005.

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