SREI Infrastructure board to allot warrants
SREI Infrastructure board to allot warrants >The board of directors of SREI Infrastructure (Q, N,C,F)* Finance at its meeting held on Sep. 19, 2007, decided to issue up to 25 million warrants to the promoter and promoters group on preferential basis, subject to approval of the shareholders. The warrants are convertible into equity shares in one or more tranches at a price of Rs 100 a share, which is in excess of the price of Rs 97.10 a share. With this prefere ntial issue, the shareholdings of promoter and promoter group in the company will increase from 20.10% to 35.01%. The company called an extraordinary general meeting (EGM) of the members on October 15, 2007, for the purpose of obtaining shareholders approval for above mentioned preferential issue.
Shares of the company gained Rs 0.15, or 0.13%, to Rs 113.30. The total volume of shares traded were 461,722 at the BSE. (Wednesday).
