Excel Industries Ltd allots warrants to Utkarsh Global Holdings

Pursuant to Shareholders' approval at the Extraordinary General Meeting of Excel Industries Ltd held on March 15, 2014 and in-principle approval for listing of securities under the Listing Agreement, the Board of Directors of the Company at its meeting held on March 28, 2014 has issued and allotted to Utkarsh Global Holdings Private Limited, a promoter group company, for consideration in cash, on preferential basis, 20,00,000 (Twenty Lacs) convertible warrants of the face value of Rs. 69/- each. The Warrants are convertible within 18 months in one or more tranches from the date of allotment, at the option of the holder of Warrants, into one equity share of the face value of Rs. 5 (Rupees Five) each of the Company at a premium of Rs. 64/- per equity share.

Shares of EXCEL INDUSTRIES LTD. was last trading in BSE at Rs.67.95 as compared to the previous close of Rs. 69.55. The total number of shares traded during the day was 138 in over 4 trades.

The stock hit an intraday high of Rs. 67.95 and intraday low of 67.95. The net turnover during the day was Rs. 9377.

Source : Equity Bulls

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