Orissa Sponge allots 1.4 mn pref shares

NEW DELHI: Orissa Sponge Iron and Steel Ltd has said it will allot 1.41 million shares on a preferential basis to Torsteel Research Foundation in India (TRFI).

The company informed that the board of directors on a meeting on August 28, had given their approval for the conversion of 1.41 million equity share warrants issued on May 31 to same number of preferential shares.

TRFI is the promoter of Orissa Sponge Iron and Steel.

Shares of the company closed at Rs 28, down 1.41 per cent on the BSE.