Rain Commodities Ltd has informed BSE that a meeting of the Board of Directors of the Company will be held on May 21, 2008, inter alia, to consider allotment of 15,63,293 Equity Shares to Focus India Brands Pvt Ltd (Promoter) at a price of Rs 200/- each (Rs 10/- face value + Rs 190/- Premium) consequent to the conversion of 15,63,293 Equity Warrants into Equity Shares.

Further the Company has informed that, these Equity Warrants were issued on November 29, 2006.