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Hyderabad, Oct. 9

The Board of Directors of ICSA (India) has announced it has allotted 26,50,000 equity shares of Rs 2 each, on excise of conversion option by Goldman Sachs Asia Finance and Mr G. Bala Reddy, Chairman and promoter of ICSA. Both of them are warrant holders and the equity shares have been allotted on conversion of warrants at the issue price of Rs 227 a equity share of Rs 2 each. With this, the holding of the entire promoter group, post acquisition of the equity shares, repres ents about 19.46 per cent of the company equity, according to a company statement. —

Our Bureau

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