United Phosphorus to issue 31 mn warrants to promoters
United Phosphorus to issue 31 mn warrants to promoters United Phosphorus, a manufacturer of crop protection products, would issue 31.17 million warrants to the promoters, as per SEBI guidelines. > The warrants would be convertible into equal number of equity shares of Rs 2 each. An amount equivalent to 10% of the price would be paid on allotment of warrants and the remaining 90% would be paid at the time of subscription to equity shares on exercise of rights attached to the warrants within a period of 18 months. The above dicision was taken by the board of directors of the company at its meeting held on Se. 14, 2007.
Further, the board decided to issue&n bsp;equity shares/ FCCBs/ GDRs/ any other permissible instruments convertible into equity shares up to USD 500 million in one or more tranches, subject to shareholders approval.
Shares of the company were last trading up Rs 13.50, or 3.83%, at Rs 366. The total volume of shares traded at the BSE was 154,339. (12.30 p.m, Monday)
