Nissin Copper came out with an IPO in 2006 to issue 64.1 Lakh shares to the public at price band of 33 to 39. Since it was oversubscribed 4.7 times, they priced it at the high end of the range.
http://www.moneycontrol.com/news/ipo-issues-open/nissan-copper-ipo-oversubscribed-47-times_255540.html

So they raised 25Cr for a project worth 35 Cr out of which 10 Cr was provided by SBI. So in effect they raised the entire money from the public for this project with none of their money involved.

But in 2009, they issued 2,40,00,000 equity share warrants on preferential basis to Promoters and independent Investors at 4 Rs premium or 14 rs only.
http://www.bseindia.com/qresann/news.asp?newsid={C772269B-8386-4BAD-89FF-FAC5CD75BA0D}¶m1=1

While promotors already had majority control over the company, by issuing these warrants, they would make a killing in the market, while in effect getting 4 times the shares for themselves as against public issue at 1/3 the rate as from the public. So existing public shareholders would lose our big time. Already since ipo, now share price is 25 rs or a loss of almost 40% from IPO price. Guess Indian promotors continue their games with the public/retail investors and its legal as per SEBI rules!! Minority shareholders cannot prevent this massive equity dilution in favour of promotors because they are a minority!!