Ramkrishna Forgings to allot 12 lakh warrants to Riddhi Portfolio

The Board of Directors of Ramkrishna Forgings Ltd at its meeting held on July 14, 2014, has approved the allotment of 12,00,000 warrants to M/s. Riddhi Portfolio (P) Ltd (allottee) after the receipt of the approval of the members and the Stock exchanges.

The allottee will have the option to convert the same into 12,00,000 equity shares at a price of Rs. 150 per share within 18 months from the date of allotment i.e. July 14, 2014.

Shares of RAMKRISHNA FORGINGS LTD. was last trading in BSE at Rs.203.8 as compared to the previous close of Rs. 207.7. The total number of shares traded during the day was 89 in over 4 trades.

The stock hit an intraday high of Rs. 203.8 and intraday low of 197.35. The net turnover during the day was Rs. 17596.

Source : Equity Bulls

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