The members of Energy Development Company have accorded the board to issue, offer and allot upto 40,00,000 convertible warrants to be convertible at the option of warrant holders in one or more trenches, within 18 months from their date of allotment into 1 fully paid up equity share of the company of face value of Rs 10 each for each warrant for cash at an exercise price of Rs 135.
This was accorded at the extraordinary general meeting held on 27 August 2008.
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