Preferential Allotment

Preferential Allotment

At the meeting of Committee of Board of Directors of the Company ("Committee") held on 27th May 2010, the Committee has approved, subject to the approval of the members of the Company pursuant to Section 192A of the Companies Act, 1956, an issue of:  

(a) Up to 1,50,00,000 - Equity shares ("Ordinary Shares") of face value Rs.10 each; and

(b) Up to 1,20,00,000 - Warrants with a right exercisable by the warrant holder to subscribe for one Ordinary Share per warrant

to the Promoter of the Company i.e Tata Sons Limited on a preferential basis, in accordance with the SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2009 (ICDR Regulations) and on such other terms and conditions as the Board/Committee may in its absolute discretion decide The proposed issue will be made at a price to be determined as per the applicable ICDR Regulations.