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Allotment of Warrants

| Updated on July 09, 2012 Published on July 09, 2012

Godawari Power and Ispat Ltd has informed BSE that pursuant to the resolution passed by the shareholders of the Company in the Extra-ordinary General Meeting held on June 25, 2012, the Company has allotted 50,00,000 warrants of Rs. 130/- each convertible into 50,00,000 equity shares of Rs. 10/- each fully paid at a premium of Rs.120/- per share to M/s. Hira lnfra-Tek Limited (A Promoter Group Company).

The above allotment has been made by the committee of the Board constituted for this purpose in its meeting held on July 07, 2012 at Raipur.

The Company has received 25% of the issue price of the warrants issued to M/s. Hira Infra-Tek Limited (i.e. Rs. 16,25,00,000/-) and the balance amount of 75% shall be received from the allottee on or before conversion of the warrants into equity within the stipulated period of eighteen month.

Source : BSE - >www.bseindia.com

Published on July 09, 2012
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