Rainbow Papers Ltd has informed that the Board of Directors of the Company at its meeting held on October 16, 2007, inter alia, has taken the following decisions:
1. The Company made allotment of 17,38,755 (Seventeen Lacs and Thirty Eight Thousand Seven Hundred and Fifty Five only) Equity Shares of Rs 10/- (Rs Ten only) each at a premium of Rs 95 (Rs Ninety five only) per share aggregating Rs 18,25,69,275.00 (Eighteen Crores Twenty Five Lacs Sixty Nine Thousand Two Hundred Seventy Five Only) fully paid up as per SEBI guidelines to the persons other than promoters.
2. The Board of Directors have considered forfeiture of Rs 27,43,072.50 against 2,61,245 warrants and made partial allotment of 88755 Equity Shares.
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