BSEL approves allotment of 59 lakh equity shares

Mumbai, May 10 (UNI) The promoters of BSEL, Infrastructure and construction major, today approved allotment of 59 lakh equity share warrants on a preferential basis to promoters.

This has increased the promoters' stake in the company by 10 per cent from 38 per cent to 43 per cent subject to shareholders approval.

In the last five months time, the promoters' stake in BSEL infrastructure realty has increased by around 12 per cent, including the latest issue.

The company said each warrant is convertible into one equity share of the company of nominal value of Rs 10 each at a price of Rs 77 per share, which includes a premium of Rs 67 per share.

UNI