Gupta Carpets International has informed that the board of directors of the company at its meeting held on July 18, 2012, has considered and approved the allotment of 33,00,000 fully convertible warrants to the persons belonging to non-promoter group at an exercise price of Rs. 10 each convertible into equal number of equity shares within a period of 18 months.
The above information is a part of company's filings submitted to BSE.