Held on 28 March 2014
Excel Industries has announced that the Board of Directors of the Company at its meeting held on 28 March 2014 has issued and allotted to Utkarsh Global Holdings, a promoter group company, for consideration in cash, on preferential basis, 20,00,000 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 each of the Company at a premium of Rs 64 per equity share.
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