Brushman India EGM approves allotment warrants at Rs.125

Brushman India Ltd has announced that the members at the Extra Ordinary General Meeting (EGM) of the Company held on April 07, 2007, inter alia, accorded to the Board to create, issue / offer and allot upto 3.65 Million warrants in one or more trenches at an offer price of Rs 125/- per warrant with the option to the warrant holders to acquire, for every warrant, one fully paid up equity share of Rs 10/- each at a premium of Rs 115/- per share on Preferential basis in compliance with all the applicable Laws and in the matter as may be decided by the Board in this behalf and such preferential allotment will be made to the proposed allotttees, subject to necessary provisions and approvals.

The stock was trading up Rs.6.50 or 5% at Rs.136.50 on volume of 2239 shares compared to 2 week average quantity of 1745 shares.

Source : Equity Bulls

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