Falcon Tyres Ltd has informed BSE that the Allotment of Shares to the allottees was approved in the Extra Ordinary General Meeting of the Company held on the April 26, 2012 and the same was subsequently noted in the Board of Directors Meeting held on the April 26, 2012.
The Issue and allotment of 4,33,87,048 Equity Shares of Face value Rs. 5/- each on conversion of outstanding loan of Rs. 144,04,49,995 to the allottees on preferential basis at a price of Rs. 33.20 including a premium of Rs. 28.20 as determined in accordance with Chapter VII of SEBI ICDR Regulations.