Media Video allots 17,33,000 shares to Bennett, Coleman & Co. Ltd

Media Video Ltd has announced that Bennett, Coleman & Co. Ltd, a Times of India Group Company has exercised its options to fully convert warrants into equity shares and the Company has allotted 17,33,000 fully paid equity shares to Bennett, Coleman & Co. Ltd and thus, increasing its shareholding from existing 7.2% to 11.3% in the Company.

The Company., made first allotment of 26,80,538 equity shares to BCCL on preferential allotment basis in August 2005 and the Company may explore the possibilities for another preferential allotment in its real estate division to BCCL in near future.

The stock was trading at Rs.48.95, up by Rs.0.60 or 1.24%. The stock hit an intraday high of Rs.49.75 and low of Rs.48.20. The total traded quantity was 187828 compared to 2 week average of 311613.

Source : Equity Bulls

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