Reliance Industries allots Warrants to promoter group

Reliance Industries Ltd has announced that pursuant to the special resolution passed by the members of the Company, the Board of Directors of the Company has allotted 12,00,00,000 warrants on preferential basis to the entities belonging to the promoter group, entitling the warrantholders to apply for an equivalent number of fully paid-up equity share of Rs 10 each of the Company at a price of Rs 1402 per share at any time during 18 months from the date of issue.

The stock closed the day at Rs.1410.65, up by Rs.23 or 1.66% with 500098 shares changing hands at a weighted average price of Rs.1402.77. The stock hit an intraday high of Rs.1415 and low of Rs.1381.85.

Source : Equity Bulls

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