Real estate firm Orbit Corporation today said its board has approved the allotment of 40 lakh convertible warrants to the promoters of the company on preferential basis.
The board has approved allotment of 20 lakh warrants -- convertible into equity shares of Rs 10 each at a premium of Rs 179.75 per share -- each to Ravi Kiran Aggarwal and Pujit Aggarwal, the promoters of the company, Orbit Corporation said in a filing to the BSE.
Shareholders of the company have already approved the allotment of warrants.
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