Stone India Ltd allots 575000 shares

The Allotment Committee of the Board of Directors of Stone India Ltd had allotted 20,00,000 nos. warrants on preferential basis on October 17, 2013 to ISG Traders Limited (ISGTL), a part of Promoter Group Companies, under Securities and Exchange Board of India (Issue of Capital & Disclosure Requirements) Regulations 2009 at a price of Rs. 17.50 per warrant entitling the warrant holder to apply for and get allotment of one Equity Share of Rs. 10 each against each warrant within a period of eighteen months from the date of issue. As per SEBI Regulation, the allottee had paid 25% of the purchase price at the time of allotment of the warrants.
ISGTL have exercised their right for equity entitlement against 5,75,000 nos. warrants out of total 20,00,000 nos. warrants and paid the balance 75% of the purchase price. The Allotment Committee of the Board of Directors of the Company in its meeting held on March 31, 2014 has allotted 5,75,000 Equity Shares of Rs. 10/- each at a premium of Rs. 7.50/- to ISGTL, the warrant holder.

Shares of STONE INDIA LTD.-$ was last trading in BSE at Rs.20.85 as compared to the previous close of Rs. 19.9. The total number of shares traded during the day was 10705 in over 78 trades.

The stock hit an intraday high of Rs. 20.85 and intraday low of 19.9. The net turnover during the day was Rs. 222598.