Nava Bharat Ventures Ltd has informed BSE that the Employees Stock Option Scheme
Remuneration (Compensation & Allotment) Committee allotted 1,09,890 Equity Shares of Rs 2/- each under the Employees Stock Option Scheme (ESOS) of the Company on exercise of options granted on January 05, 2007 @ Rs 90.52 per option / equity share, including premium.

Further, consequent to the aforesaid allotment, the paid-up share capital of the Company has gone up from 7,77,63,778 Equity Shares of Rs 2/- each for Rs 15,55,27,566/- to 7,78,73,668 Equity Shares of Rs 2/- each, aggregating to Rs 15,57,47,336/-.