Sri Adhikari Brothers Television Network Ltd allots 1 crore warrants on receipt of 25% issue price

The Board of Directors of Sri Adhikari Brothers Television Network Ltd at its meeting held on March 18, 2014, upon receipt of 25% of issue price from the allottees, has allotted 1,00,00,000 (One Crore) Warrants convertible into even number of Equity Shares of Rs. 10/- each of the Company at an issue price of Rs. 75.10 (including premium of Rs. 65.10) per share to the entities in the promoter group and others on preferential basis in accordance with the provisions of SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2009.

The above warrants entitle the allottees to apply for and be allotted even number of equity shares for each warrant held by them on payment of balance 75% of the issue price within 18 months from the date of issue of such warrants.

Shares of SRI ADHIKARI BROTHERS TELEVISION NETWORK LTD. was last trading in BSE at Rs.70.6 as compared to the previous close of Rs. 70.45. The total number of shares traded during the day was 20496 in over 229 trades.

The stock hit an intraday high of Rs. 70.9 and intraday low of 70.35. The net turnover during the day was Rs. 1450553.

Source : Equity Bulls

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