Bhuwalka Steel Industries Ltd has informed that the shareholders at the Extra Ordinary General Meeting (EGM) of the Company held on February 12, 2008, have passed a special resolution to offer, issue and allot up to 28,00,000 (Twenty Eight Lac) Warrants with an option to subscribe / exchange those warrants in to 28,00,000 (Twenty Eight Lac) equity shares of Rs 10/- each of the Company @ Rs 100/- per share (including a premium of Rs 90/- each), by way of preferential allotment to the investors mentioned herein below. (who are not the members of the Company) up to the numbers mentioned against their names and on such terms and conditions as the Board may deem appropriate in its absolute discretion may deem fit:
1. Genial Finance & Investment Pvt Ltd 10,00,000 nos
2. Purlieu Investment And Finance Pvt Ltd 10,00,000 nos
3. Multiplus Holding Ltd 2,70,000 nos
4. Krishna J Sheth 2,65,000 nos
5. Falguni C Lotia 2,65,000 nosand the warrants to be issued to the aforesaid shall be subject to terms & conditions.
Further the Company has informed that, the Company is a secondary steel producers with plants at Bangalore and Mumbai. The product range includes TMT Bars, Angels, Channels, Beams, Flats, Square, Rounds, etc. Company is a licensee of Hennigdorfer Stahl EngineeringGmbh, Germany, for the manufacture of Thermex® Thermo Mechanically treated (TMT)Reinforcement Bars. Bhuwalka TMT Re-Bars help bring world class steel to the construction and infrastructure development sectors.
The Company has undertaken modernization and expansion at Wada, Thane District, Maharashtra. Consequent to this steel rolling capacity of the Company will go up from the present 2,08,000 MTs to Rs 2,92,000 MTs by the end of 1st Quarter of 2008-09.
1. Genial Finance & Investment Pvt Ltd 10,00,000 nos
2. Purlieu Investment And Finance Pvt Ltd 10,00,000 nos
3. Multiplus Holding Ltd 2,70,000 nos
4. Krishna J Sheth 2,65,000 nos
5. Falguni C Lotia 2,65,000 nosand the warrants to be issued to the aforesaid shall be subject to terms & conditions.
Further the Company has informed that, the Company is a secondary steel producers with plants at Bangalore and Mumbai. The product range includes TMT Bars, Angels, Channels, Beams, Flats, Square, Rounds, etc. Company is a licensee of Hennigdorfer Stahl EngineeringGmbh, Germany, for the manufacture of Thermex® Thermo Mechanically treated (TMT)Reinforcement Bars. Bhuwalka TMT Re-Bars help bring world class steel to the construction and infrastructure development sectors.
The Company has undertaken modernization and expansion at Wada, Thane District, Maharashtra. Consequent to this steel rolling capacity of the Company will go up from the present 2,08,000 MTs to Rs 2,92,000 MTs by the end of 1st Quarter of 2008-09.
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