Radha Madhav Corporation to allot preference shares

Radha Madhav Corporation Ltd has announced that the Board of Directors of the Company at its meeting held on April 21, 2007 has resolved that Allotment of 55,48,400, Preference shares in term of SEBI's Guidelines, Subscription Agreement, to the following Non Promoters, entitling holders to get one equity share in exchange of one Preference shares on preferential basis.

1. Deutsche Securities Mauritius Ltd - 34,90,400 No of Preference Share Alloted.

2. Concordia Asia-Pacific Multi-Strategy Master Fund - 20,58,000 No of Preference Share Alloted.

The stock was trading at Rs.70.60. The stock hit an intraday high of Rs.72.10 and low of Rs.70.50. The total traded quantity was 225294 shares compared to 2 week average of 613278.

Source : Equity Bulls

Keywords