Orissa Sponge Iron & Steel Ltd has informed that the Board of Directors of the Company at its meeting held on September 14, 2007, has proposed the following:
1. To allot 15,00,000 numbers of equity shares on preferential basis to Prakausali Investments (India) P Ltd. subject to approval of members of the Company at the price accordance with SEBI guidelines.
2. To allot 15,00,000 numbers of equity shares warrants on preferential basis to Prakausali Investments (India) P Ltd. subject to approval of members & others law & regulation at the price accordance with SEBI guidelines.
3. To allot 30,00000 numbers of equity shares warrants on preferential basis to TRFI Investments Pvt Ltd subject to approval of members and others law & regulation at the price accordance with SEBI guide lines.
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