Baba Arts Ltd has informed that the Board of Directors of the Company by their circular resolution approved on November 16, 2007, have allotted 200000 Equity shares upon exercise of warrants as under:
a. 100000 Equity Shares of Rs 4/- each at a premium of Rs 40/- per share to Mr. Raju P Tanwani belonging to the Promoter Group.
b. 100000 Equity Shares of Rs 4/- each at a premium of Rs 40/- per share to Mr. Kumar Mangat Pathak belonging to the Non Promoter Group.
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