Mumbai-based DB Realty Ltd today said it would issue up to 3.7 crore warrants on preferential basis to promoters.
The board in a meeting held today has approved the "issuance of up to 3.7 crore warrants on preferential allotment basis to promoters/promoter group, with each warrant convertible into one equity share of the company", the company said in a filing to the BSE.
The board also approved the issuance of shares under ESOP scheme to eligible employees.
An Extra Ordinary General Meeting has been called on November 3 to take approval from the shareholders.
As on June 30, the promoters had 62.47% stake in the company. The company's share price settled at Rs 86.70 apiece on BSE, up by 7.7% from previous closing.