The board of Suave Hotels has allottedhas allotted 20,00,000 warrants of Rs 10 each at a premium of Rs 25 per share to promoters and others on a preferential basis on 27 February 2007.
The allottees had paid Rs 4 per warrant being 10% of the issue price by way of application money. The balance money (Rs 31) being due on the warrants have been now brought in by the following allottees. The option for conversion being exercised, the board has allotted 5,00,000 shares to Hot-N-Ice and 5,00,000 shares to Alken Management & Financial Services.
These shares allotted at the board meeting held on 17 November 2007.
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