Bafna Pharmaceuticals allots 1,50,000 shares & cancels 20,43,000 warrants

The Board of Directors of Bafna Pharmaceuticals Ltd at its meeting held on September 15, 2012, has approved and allotted 1,50,000 Equity Shares pursuant to conversion of Warrants into Equity Shares after receipt of 75% of balance money, warrants allotted on March 17, 2011.

The Board cancelled 20,43,000 convertible Warrants allotted on March 17, 2011 for non payment of balance money within 18 months and forfeited the 25% (application) money paid at the time of allotment of warrants.

Pursuant to the above the paid-up share capital of the Company increased to Rs. 18,65,63,350/- comprising of 1,86,56,335 Equity Shares of Rs 10/- each.

The Bafna Pharmaceuticals Ltd stock was trading at Rs.43.05, down by Rs.0.25 or 0.58%. The stock hit an intraday high of Rs.44.40 and low of Rs.43.05.

The total traded quantity was 7158 compared to 2 week average of 23362.

Source : Equity Bulls

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