The board of directors of Borax Morarji has decided to issue of rights equity shares in the ratio of 1 (one) equity share of Rs 10 each at a premium of Rs 10 per share for every existing share held as on record date together with 1 (one) Detachable Warrant for every 2 (two) right shares allotted which will entitle the holder of the Detachable Warrant, upon conversion, 1 (one) equity shares of Rs 10 at a premium of Rs 10 per share.