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The board of directors of Balasore Alloys on Monday allotted 80 lakh convertible warrants to Jaltarang Vanijya Pvt Ltd, a promoter group entity, on preferential basis. According to the terms, the warrant holder has rights to convert the warrants into equivalent number of equity shares of ₹5 each at a price of ₹17 a share. The stock of Balasore Alloys closed at ₹16.45, down 0.54 per cent, on the BSE.
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