Rasi Electrodes Ltd allots 10 lac warrants, 951100 shares

Pursuant to the resolution passed by the shareholders at the EGM held on August 30, 2014 and in accordance with Chapter VII of the ICDR Regulations, 2009, a meeting of the Board of Directors of Rasi Electrodes Ltd was held on September 29, 2014 which has allotted 10,00,000 Convertible Warrants on preferential basis to the Promoter and Non-Promoter, with each Warrant convertible into one equity share of the Company of nominal value of Rs. 10/- each at a price of Rs. 54/- which includes a premium of Rs. 44/- per share.

The Board also allotted 9,51,100 Equity shares at a price of Rs. 54/- per equity share (including a premium of Rs. 44/- per Equity share) on preferential basis to the Non-Promoter Group.

Pursuant to the above allotment of Equity shares, the paid-up equity share capital of the Company stands increased to Rs. 616.11 lakhs.

Shares of RASI ELECTRODES LTD. was last trading in BSE at Rs.70.9 as compared to the previous close of Rs. 67.1. The total number of shares traded during the day was 2403 in over 20 trades.

The stock hit an intraday high of Rs. 71.9 and intraday low of 70. The net turnover during the day was Rs. 169693.

Source : Equity Bulls

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