R.S. Software India allots 390000 Equity Shares at Rs.51.86

The Board of Directors of R.S. Software (India) Ltd have approved on March 27, 2012, the first tranche of conversion of 390000 Convertible Warrants out of the total 1550000 Warrants allotted to Mr. Rajnit Rai Jain on March 26, 2012 on preferential basis by allotting 390000 Equity Shares as fully paid-up @ Rs. 51.86 each, which includes a premium of Rs. 41.86 per share.

The above allotment has been made subsequent to the receipt of the balance 75% of the total consideration amount for 390000 Convertible Warrants by the Company on March 26, 2012 from Mr. Rajnit Rai Jain.

The R.S. Software (India) Ltd stock closed the day at Rs.64.10, up by Rs.2.25 or 3.64%. The stock hit an intraday high of Rs.64.85 and low of Rs.62.10.

The total traded quantity was 0.26 lakhs compared to 2 week average of 0.29 lakhs.

Source : Equity Bulls

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