Hindustan Motors sets price for pref allotment

Car maker Hindustan Motors has fixed Rs 12.25 a share for its preferential allotment of 11.8 million shares and warrants each to promoters, it said in a statement late on Saturday.

The shares and warrants will be issued to Amar Investments Delhi, Bengal Rubber Company Ltd, Central India Industries Ltd and Hindustan Discounting Co Ltd, all part of the promoter group, the statement added.