IG Petro issue warrants

Thebullishtrends : IG Petro Chem shares are trading at Rs.87.70 IG Petrochemicals Ltd Board of Directors approved the following: 1. Issue of 15,00,000 Share Warrants on preferential basis to Financierings Maatschappij voor Ontwikkelingslanden N V (FMO), a Netherlands based Developmental Financial Institution, at a price of Rs 77.50 per warrant to be converted into 15,00,000 equity shares at the face value of Rs 10/- per equity share plus Rs 67.50 premium in the ratio of 1:1 (one warrant into one equity share) within a period of 18 months from the date of allotment of warrants subject to requisite shareholders and other regulatory approvals.