Rexnord Electronics & Controls Ltd approves issue of 3478800 warrants

The Board of Directors of Rexnord Electronics & Controls Ltd at its meeting held on July 19, 2014, has approved the proposal to issue on preferential basis, in accordance with Chapter VII of SEBI (ICDR) Regulation 2009, upto 34,78,800 Warrants carrying an entitlement to subscribe to an equivalent number of equity shares of face value of Rs. 10/- each at a price being not lower than the minimum price calculated in accordance with Regulation 76 of SEBI (ICDR) Regulation 2009.

The Board also approved the proposal to call an Annual General Meeting of the Company on August 30, 2014 and approved the notice for the same.

Shares of REXNORD ELECTRONICS & CONTROLS LTD. was last trading in BSE at Rs.12.95 as compared to the previous close of Rs. 13.54. The total number of shares traded during the day was 340 in over 13 trades.

The stock hit an intraday high of Rs. 14 and intraday low of 12.87. The net turnover during the day was Rs. 4429.

Source : Equity Bulls

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