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| Exchange Disseminated Time | | S.A.L. Steel Ltd has informed BSE that Company had issued 3,20,00,000 convertible warrants of Rs. 10/- each to be converted into Equity share of Rs. 10/- on the condition that the full amount of warrants should be received within 18 months of issue i.e. on or before August 02, 2013. 25% of face value of warrant i.e. Rs. 2.50 per warrant was received along with application money. However, remaining amount of Rs. 7.50 per warrant has not been received from any of the strategic investors, promoter group and as such the amount of application money being Rs. 2.50 per warrant aggregating to Rs. 8.00 crores is liable to be forfeited and accordingly said amount stands forfeited. |
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