Som Distilleries EGM approves issue of warrants at Rs.18.35

Som Distilleries & Breweries Ltd has announced that the members at the Extra Ordinary General Meeting (EGM) of the Company held on April 23, 2007, inter alia, have unanimously approved the following:

1. Increase of Authorized Capital of the Company from Rs 19.00 Crores to Rs 23.00 Crores.

2. Issue of 21,41,689 warrants convertible into equity shares of face value of Rs 10.00 each at a price of Rs 18.35 per share including premium of Rs 8.35/- per equity share, on a preferential basis to Kotak Mahindra Bank Ltd, subject to the applicable regulatory approvals.

The stock closed the day at Rs.16. The total traded quantity was 16162 compared to 2 week average of 23108. The stock hit an intraday high of Rs.16.45 and intraday low of Rs.15.75.

Source : Equity Bulls

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