Ruchi Strips - Outcome Of Board Meeting

Ruchi Strips & Alloys Ltd has informed that the Board of Directors of the Company at its meeting held on March 17, 2007, has considered and approved the conversion of 565,256, 0% Optionally Fully Convertible Debentures (OFCD,s) of Rs 100/- each by allotting 565,256 Fully Convertible Debentures (FCD,s) of Rs 100/- each to IFCI Ltd.