The committee of IOL Chemicals & Pharmaceuticals has allotted securities to 13,30,000 equity shares of face value of Rs 10 each at a premium of Rs 65 per share aggregating to Rs 9,97,50,000 Indiastar (mauritius), non-promoter of the company.
The committee has allotted 13,99,998 unsecured 10% fully convertible debentures (FCDs) of Rs 100 each aggregating to Rs 13,99,99,800 at an interest rate of 10% per annum payable monthly convertible in one or more tranches within a period of 18 months from the date of allotment into equity shares of face value of Rs 10 each at a premium of Rs 65 per share to Indiastar (mauritius), non-promoter of the company.
The committee has allotted 23,00,000 warrants, carrying an option to the holder of such warrants to subscribe to one equity share of Rs 10 at premium of Rs 65 per share for every warrant held, within 18 months from the date of allotment of the warrants to Mayadevi Polycot and Indiastar (mauritius) on preferential basis.
These shares were allotted at the share allotment committee meeting held on 22 October 2007.
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