Orbit Corporation’s board of directors at its meeting held on Thursday, has decided to issue 1 crore warrants of face value ₹10 each to the promoter/ promoter group on preferential allotment basis, said the company in a note to the BSE. The warrants will entitle the holders to allotment of one equity shares for each warrant in accordance with the provisions of Section 62 of the Companies Act, 2013, and other applicable provisions, the note added.

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