Gretex Corporate Services Limited has informed the Exchange regarding Receipt of In-principle approval granted by stock exchange for issue of 1,00,000 warrants convertible into 1,00,000 equity shares of Rs. 10/- each at a price not less than Rs. 300/- to non-promoters on a preferential basis

Gretex Corporate Services Limited has received in-principle approval from the stock exchange to issue 1,00,000 (one lakh) warrants on a preferential basis to non-promoters. Each warrant will be convertible into one equity share of Rs. 10 face value, at a price of not less than Rs. 300 per share. At the minimum stated price, the issue could raise around Rs. 3 crore for the company once the warrants are exercised. The approval is a regulatory step before the warrants can actually be allotted; the funds will come in only when warrant holders choose to convert their warrants into shares.