Orient Paper & Industries Ltd has informed BSE that the Committee of Directors of the Company at its meeting held on March 18, 2011 approved the allotment of 1,20,00,000 Warrants convertible into equity shares to the following Promoter Companies.
1. Central India Industries Ltd.- 95,00,000 warrants
2. Shekhavati Investments and Traders Ltd. - 25,00,000 warrants
Each warrant to be convertible into one equity share of the Company of nominal value of Re. 1/- each at a price of Rs. 57.25 which includes a premium of Rs. 56.25 per share. The warrants shall be convertible into equity shares at any time within 18 months from the date of allotment.
Sensex
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Monday, March 21, 2011
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