Aditya Birla Nuvo, part of the Aditya Birla group, today said shareholders have approved to issue 1.85 crore warrants to promoter and promoter group.
Shareholders of the company have approved to issue of 1.85 crore warrants of Rs 10 each (face value) to promoter and promoter group, Aditya Birla Nuvo said in a filing to the Bombay Stock Exchange.
Further the holders of each warrant would be entitled to apply for and obtain one equity share at a price of Rs 541.19 against each warrant at any time after the date of allotment.
However, it should be on or before the expiry of 18 months from the date of allotment in one or more tranches, the filing added.
Shares of Aditya Birla Nuvo today settled at Rs 898.75, down 5.33 per cent on the BSE.
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