FE India Ltd approves allotment of 3215000 warrants

The Board of Directors of FE (India) Ltd at its meeting held on January 31, 2015, has considered and approved the allotment of 32,15,000 Warrants to the persons belonging to the Non-Promoter Category on a preferential basis at an issue price of Rs. 22/- per Warrant in accordance with the provisions of SEBI (ICDR) Regulations, 2009 read with Companies Act, 2013.

The Board approved part conversion of aforesaid Warrants, to the extent of 10,55,000 Warrants, in terms of the mandate received from the allottees exercising their right of conversion in compliance with the provisions of SEBI (ICDR) Regulations, 2009.

Shares of FE (India) Ltd was last trading in BSE at Rs.23.9 as compared to the previous close of Rs. 23.4. The total number of shares traded during the day was 2266 in over 39 trades.

The stock hit an intraday high of Rs. 24.5 and intraday low of 23.2. The net turnover during the day was Rs. 53076.

Source : Equity Bulls

Keywords