Ramkrishna Forgings - Updates

Ramkrishna Forgings Ltd has informed BSE that as per the resolution passed by shareholders at the Extra Ordinary General Meeting held on January 09, 2008, Company has made the allotment of 25,81,000 warrants with an option to convert into 25,81,000 equity shares of Rs 10 each at a Issue price of Rs 215, determined in accordance with the SEBI Guidelines.
The Company had received the upfront money i.e. 10% of the Issue price Rs 5,54,91,500. The details are mentioned below:

1. Name of the Applicant : Pushman Consultants (P) Ltd
- No of warrants : 50,000
- Date of Allotment : March 19, 2008

2. Name of the Applicant : Phi Advisory (P) Ltd
- No of warrants : 7,65,000
- Date of Allotment : March 19, 2008

3. Name of the Applicant : Basuki Portfolio (P) Ltd (now Riddhi Portfolio Pvt. Ltd)
- No of warrants : 1,64,800
- Date of Allotment : March 19, 2008

4. Name of the Applicant : Basuki Portfolio (P) Ltd (now Riddhi Portfolio Pvt. Ltd)
- No of warrants : 1,18,000
- Date of Allotment : March 20, 2008

As per the SEBI Guidelines, the convertible warrants can be converted within 18 months from the date of issue of Instrument on payment of issue price.

And since the Company has not received the conversion money, the company has forfeited the application money received and transferred to Reserves.