Kavit Industries Ltd to allot 4 crore shares

The Board of Directors of Kavit Industries Ltd at its meeting held on July 23, 2014, has decided to allot 4,00,00,000 equity shares of Rs. 10/- each at a price of Rs. 15/- per share (in lieu of convertible warrants issued) on preferential basis to those allottees who have exercised their rights of conversion.

The Company has already taken approval of the shareholders in EGM held on April 09, 2014 and the warrants were allotted on May 06, 2014.

Shares of Kavit Industries Limited was last trading in BSE at Rs.7.75 as compared to the previous close of Rs. 8.11. The total number of shares traded during the day was 650 in over 4 trades.

The stock hit an intraday high of Rs. 8.51 and intraday low of 7.75. The net turnover during the day was Rs. 5151.

Source : Equity Bulls

Keywords