TagShare Warrants

Issue of Banning Share Warrants to Promoters – SEBI order

I had written earlier on February 26, 2009 here on an issue titled “Is it time to sentence Share Warrants to Dishonorable Discharge?”. Essentially, I had argued that Share Warrants were heavily being misused by Promoters. They allotted, almost exclusively to themselves, Share Warrants at a price and terms that appeared to be absurdly below their fair value. The Companies would almost never have...

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