Himalya International Ltd approves issue of 8.5 million warrants

The Board of Directors of Himalya International Ltd at its meeting held on January 23, 2014, has reviewed and approved the issue of 8.5 million warrants convertible into equal no. of equity shares of Rs. 10/- each at a premium of Rs. 1/- each to the promoters & associates on preferential basis.

The Board approved the constitution of a separate Company to promote and sell the Company's product/s through retail food carts/kiosk, mobile vans and start Franchise Fast Food Chain, Board also reviewed and approved the proposal to enter into a suitable partnership with an interested Company to execute & operate the above said business.

The Board accepted the approved sanction of additional working capital from Banks and authorised Mr. Man Mohan Malik, Chairman Cum Managing Director of the Company to sign the legal paper/s for increased, need based working capital.

Shares of Himalya International Ltd was last trading in BSE at Rs.10.99, up by Rs.0.08 or 0.73%. The stock hit an intraday high of Rs.11.70 and intraday low of Rs.10.31.

The total traded quantity was 1.08 lakh shares as compared to 2 week average of 0.29 lakh shares.

Source : Equity Bulls

Keywords