Tricom India Ltd approves issue of shares, warrants

The Board of Directors of Tricom India Ltd at its meeting held on January 12, 2015, have approved the issue and allotment of 57,75,000 Equity Shares of Rs. 2/- each on preferential basis, in accordance with Chapter VII of SEBI (ICDR) Regulation 2009, at a price being not lower than the minimum price calculated in accordance with Regulation 76 of SEBI (ICDR) Regulation 2009 Subject to the approval of Shareholders.

The Board also approved the issue and allotment of 1,76,20,000 Fully Convertible Warrants of Rs. 2/- each, and each warrant convertible into l(one) Equity Share of face value of Rs. 2/- each on preferential basis, in accordance with Chapter VII of SEBI (ICDR) Regulation 2009, at a price being not lower than the minimum price calculated in accordance with Regulation 76 of SEBI (ICDR) Regulation 2009 Subject to the approval of Shareholders.

Shares of TRICOM INDIA LTD. was last trading in BSE at Rs.1.35 as compared to the previous close of Rs. 1.35. The total number of shares traded during the day was 75974 in over 23 trades.

The stock hit an intraday high of Rs. 1.41 and intraday low of 1.35. The net turnover during the day was Rs. 105434.

Source : Equity Bulls

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