Rainbow Papers Ltd allots 263300 shares

The Board of Directors of Rainbow Papers Ltd at its meeting held on April 17, 2014, has considered and allotted 2,63,300 Equity Shares of face value of Rs. 2/- per share to one of the promoter group Company viz. M/s. Drupa Suppliers Pvt. Ltd., pursuant to the conversion of 2,63,300 warrants out of 90,00,000 warrants allotted to the said Company on December 20, 2012 on preferential basis under Chapter VII of SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2009. After the aforesaid conversion, 69,84,700 warrants are pending for conversion.

Shares of RAINBOW PAPERS LTD. was last trading in BSE at Rs.73.3 as compared to the previous close of Rs. 74.15. The total number of shares traded during the day was 34437 in over 331 trades.

The stock hit an intraday high of Rs. 74.45 and intraday low of 73.3. The net turnover during the day was Rs. 2544836.

Source : Equity Bulls

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