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| Exchange Disseminated Time | | Excel Industries Ltd has informed BSE that pursuant to Shareholders' approval at the Extraordinary General Meeting of the Company held on March 15, 2014 and in-principle approval for listing of securities under the Listing Agreement, the Board of Directors of the Company at its meeting held on March 28, 2014 has issued and allotted to Utkarsh Global Holdings Private Limited, a promoter group company, for consideration in cash, on preferential basis, 20,00,000 (Twenty Lacs) convertible warrants of the face value of Rs. 69/- each. The Warrants are convertible within 18 months in one or more tranches from the date of allotment, at the option of the holder of Warrants, into one equity share of the face value of Rs. 5 (Rupees Five) each of the Company at a premium of Rs. 64/- per equity share. |
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