Date:09/03/2005 URL: http://www.thehindubusinessline.com/2005/03/09/stories/2005030902211300.htm

Back SRF to issue warrants to raise Rs 3 cr

Our Bureau

New Delhi , March 8

SRF Ltd will issue 33.75 lakh warrants to raise its paid-up capital to Rs 67.9 crore from the present Rs 64.5 crore.

The warrants would carry the right to subscribe to an equal number of equity shares at Rs 85 per share, including a premium of Rs 75, within a period of 12-18 months from the date of allotment, the company informed the BSE on Tuesday.

After the exercise of right attached to warrants, the paid-up equity capital would rise to Rs 67.9 crore, it said, adding the decision is subject to certain approvals and consents.

The company would hold an EGM on April 7 to seek shareholder approval for the proposal, it added.