Board of OCL Iron & Steel allots 70 lakh equity shares and 4.85 crore convertible warrants

At meeting held on 29 July 2019

The Board of OCL Iron & Steel at its meeting held on 29 July 2019 has allotted 70 lakh Equity Shares of face value of Re 1 each at a price of Rs 6 per share (including premium of Rs 5 per share), aggregating to Rs 4.20 crore to non-promoter entities by way of preferential allotment.

Further, the Company has also allotted 4.85 crore Convertible Warrants, each convertible into, or exchangeable for, one Equity Share of face value of Rs. 1 each, at a price (including the Warrant subscription price and warrant exercise price) of Rs. 6 each aggregating to Rs. 29.10 crore to the non-promoters entities by way of preferential allotment.

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