Readymade Steel India Ltd allots 4 lakh warrants

Pursuant to the resolution passed by the shareholders of Readymade Steel India Ltd in the Extra-ordinary General Meeting held on March 18, 2014, the In-Principle Approval of the stock exchange and on receipt of the 25% of the issue price (i.e. Rs. 2,00,00,000/-), the Board of Director of the Company at their meeting held on April 10, 2014 have allotted 4,00,000 warrants of Rs. 200/- each convertible into 4,00,000 Equity Shares of Rs. 10/- each fully paid up at a premium of Rs. 190/- per share to the allottees who are Non-Promoters.

The balance amount of 75% shall be received from the allottees on or before conversion of the warrants into Equity shares within the stipulated period of eighteen month from the date of allotment.

Shares of READYMADE STEEL INDIA LTD. was last trading in BSE at Rs.284.55 as compared to the previous close of Rs. 271. The total number of shares traded during the day was 55534 in over 160 trades.

The stock hit an intraday high of Rs. 284.55 and intraday low of 284.55. The net turnover during the day was Rs. 15802199.

Source : Equity Bulls

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