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Tuesday, Jan 29, 2008
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 Corporate - Preferential Allotments
Electrosteel warrants issue

Kolkata, Jan. 28

The shareholders of Electrosteel Castings Ltd, at a meeting held on January 25, have approved the issue of 1,22,00,000 convertible warrants on preferential basis to Stemcor Metals Ltd, an arm of the UK-based company. Stemcor will pay Rs 81 per share on conversion of the warrant. The fund raised through the private placement route will be used for various expansion plans of the company. - Our Bureau

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