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New Delhi, July 2

Ballarpur Industries Ltd has notified the Bombay Stock Exchange that the committee of directors of the company has approved the allotment of 77,27,958 equity shares each to its investors - International Finance Corporation (IFC) and Deutsche Investitions (DEG).

The said shares have been allotted on part conversion of foreign currency convertible bonds (FCCBs) of $45 million, which were allotted by the company in November 2003. The conversions were done at Rs 86.20 per share as opposed to Rs 10 each. - Our Bureau

More Stories on : Preferential Allotments | Foreign Institutional Investors | Paper | rd & Newsprint

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