At meeting held on 03 November 2016
Balasore Alloys announced that the Board of Directors of the Company at its meeting held on 03 November 2016 has allotted 2.30 crore convertible warrants on preferential basis which shall entitle the warrant holder to equivalent number of equity shares of Rs 5 each of the Company at a price of Rs 21.50 per share.Out of the said warrants, One crore warrants shall be converted into equity shares in FY 2016-17 and the remaining 1.30 crore warrants shall be converted into equity shares in FY 2017-18.
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