Sintex Plastic Technology has decided to issue warrants to the promoter of the company.

The company has decided to increase the authorized share capital to Rs.76 crore from Rs.65 crore, in its board meeting which was held on February 2.

Further, the company has also decided to issue warrants convertible into equity shares of Re.1 each for cash totaling to Rs.600.30 crore to Star Line Leasing, a company belonging to promoter of company, on a preferential basis.

Read EquityPandit’s Technical Analysis of Indian Stock Market