Rainbow Papers has informed that a meeting of the board of directors of the company will be held on December 20, 2012, to consider the allotment of 90,00,000 convertible warrants (convertible into 90,00,000 equity shares in one or more trenches within a maximum period of 18 months) at a price of Rs. 81 each to the promoter group company drupa suppliers private limited.
The above information is a part of company’s filings submitted to BSE.