Gujarat NRE allots convertible warrants to promoters

Ahmedabad, Jan 4 (UNI) The management committee of Gujarat NRE Coke has allotted 3.50 crore Convertible Warrants to promoters and promoter group of companies following approval of the company's shareholders.

Gujarat NRE sources said here today that the management committee has allotted the 3.50 crore Convertible Warrants of Rs 120 each on Preferential Private Placement Basis on January 3.

It would help the promoters to improve their holdings in the company in the wake of substantial conversions of Foreign Currency Convertible Bonds (FCCB) issued by the company and massive interest shown by Foreign Institutional Investors (FIIs) through market purchase of the shares of the company, sources said.

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