Monnet Ispat Limited has announced that the Board of Directors of the Company at its meeting held on June 30th 2009, inter alias has allotted 9,000,000 warrants at a price of INR 201.50 each, to the promoters of the company with the right, on exercise, to apply for an aggregate of 9,000,000 equity shares of INR 10 per each at a premium of INR 191.50 per share and exercisable, in more than one tranche, within a period of 18 months from the date of issue. These warrants have been allotted subject to lock in terms of SEBI Guidelines 2000.