Siti Cable Network allots 68500000 shares on conversion of Warrants

As per the terms of 16,20,00,000 Warrants issued by Siti Cable Network Ltd on March 19, 2013 on preferential basis, the Allotment Committee of the Board of Directors of the Company at the meeting held on March 25, 2014 has upon receipt of balance of 75% consideration aggregating to Rs. 1,02,75,00,000/- approved allotment of 6,85,00,000 Equity Shares upon conversion of equivalent number of warrants at an issue price of Rs. 20 per share to the allottees.

Shares of SITI CABLE NETWORK LTD. was last trading in BSE at Rs.20.55 as compared to the previous close of Rs. 20.4. The total number of shares traded during the day was 548795 in over 2426 trades.

The stock hit an intraday high of Rs. 21.45 and intraday low of 20.25. The net turnover during the day was Rs. 11466508.

Source : Equity Bulls

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