Shiv-Vani Oil board meets on March 28 on debt conversion plan

The board of directors of Shiv-Vani Oil & Gas Exploration Services will meet on March 28 (Saturday) to consider conversion of outstanding interest of bankers into equity shares of the company. The ₹10 shares will be allotted at a premium of ₹5.95/share under the CDR scheme. The board will also consider conversion of the unsecured loan of promoters’ contribution into equity shares of the company at a premium of ₹5.95 a share. The company will seek shareholders’ nod for these proposals. Shares of Shiv-Vani Oil closed at ₹7.25 on the NSE, down 5.2 per cent over the previous day’s close.