Indiabulls founder to invest in BAG Films

The board of directors of BAG Films, which met on January 15, 2007, cleared a proposal to issue 2.025 crore of Rs 2 each at Rs 13 per share to New Delhi-based Sameer Gehlaut.

Sameer Gehlaut is one of the promoters of New Delhi-based brokerage and real estate firm Indiabulls.

According to a release issued by BAG Films to the BSE today, the board meet also cleared a preferential allotment of up to one crore warrants to the promoters being convertible into equity shares at Rs 13 per share.

The release added that the board also approved grant of stock options of up to one crore equity shares at an exercise price of Rs 13 per share.