Deep Industries Ltd to issue 29,50,000 warrants at Rs. 34

The Board of Directors of Deep Industries Ltd at its meeting held on November 19, 2013, has considered, to issue of 29,50,000 Convertible Warrants of Rs. 34/- each (aggregating Rs. 10,03,00,000/-) convertible into fully paid up Equity Shares of Rs. 10/- each at a Premium of Rs. 24/- per Share within 18 months from the date of allotment of Convertible Warrants on Preferential allotment basis, subject to the approval and consent of members of the Company at Extraordinary General Meeting of the Company scheduled to be held on December 19, 2013.

Shares of Deep Industries Ltd was last trading in BSE at Rs.36.40, up by Rs.2.45 or 7.22%. The stock hit an intraday high of Rs.38.30 and low of Rs.35.05.

The total traded quantity was 0.77 lakhs as compared to 2 week average of 2.05 lakhs.

Source : Equity Bulls

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