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MUMBAI: Tata Power Company Ltd informed the BSE that in accordance with the guidelines set out earlier, the equity shares to be allotted to Tata Sons Ltd on conversion of warrants would not be at a price lower than Rs 1,351.63 per share, if such right is exercised by TSL.

The company allotted to Tata Sons Ltd (TSL) on preferential basis of 98.94 lakh equity shares of Rs 10/- each and 1,03,89,000 (1.04 crore approx) Warrants which entitled TSL to subscribe to equity shares of the company after April 1, 2008.

In case of any rights issue or bonus issue appropriate adjustments would be made to the number of equity shares arising out of warrants and exercise price thereof.

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Tata Power board approves issue of equity shares, warrants

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