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October 07, 2008


IIL to raise INR 500 crore through warrant issue

Ispat Industries has announced that it would raise over INR 500 crore through issue of share warrants to promoters on a preferential basis as its board has approved the issue and allotment of 11.32 crore share warrants to eligible promoters at a price of INR 44.69 each aggregating to INR 506 crore.

Ispat Industries said that the holder of the share warrants would have an option to apply for and be allotted one equity share at any time after the date of allotment in one or more tranches.