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Hyderabad, Sept. 18

The board of directors of Bhagyanagar India Ltd today approved the allotment of 1,15,0000 warrants of face value of Rs 2 each at a price of Rs 44 on a preferential basis to Foster Ventures Ltd and Trimurthy Advisory Services and to the company promoters. This is subject to approval at the extraordinary general meeting of the company slated for October 13. In a related development, the board of directors of Surana Telecom Ltd, a group company, today approved allotment of 33,95,600 warrants of face value of Rs 5 each at Rs 31 on preferential basis to Foster Capital Ventures and Trimurthy Advisory Services and promoters of Bhagyanagar India Ltd. This is to be decided at the EGM on October 13.

— Our Bureau

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