Tata Power issues shares, warrants to Tata Sons on preferential basis

Tata Power Company Ltd has announced that the Company has allotted to Tata Sons Ltd on preferential basis:

a. 98,94,000 Equity Shares of Rs 10/- each.
b. 1,03,89,000 Warrants which shall entitle Tata Sons Ltd to subscribe to Equity Shares of the Company after April 01, 2008 but not later than 18 months from the date of issue of the Warrants.

The stock was trading at Rs.661, down by Rs.9.25 or 1.38%. The stock hit an intraday high of Rs.676 and low of Rs.657. The total traded quantity was 72865 compared to 2 week average of 135869.

Source : Equity Bulls

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