V2 Retail Ltd approves allotment of warrants to Bennett Coleman & Company Ltd.

The Board of Directors of V2 Retail Ltd in its meeting held on February 26, 2015 have approved the increase in authorized share capital of the company from Rs. 358,400,000 to Rs. 458,400,000 and alter the capital clause of MOA accordingly.

The Board also recommended to issue and allot convertible warrants of value not exceeding Rs. 325,000,000 in one or more tranches on preferential allotment basis to Bennett Coleman and Company Limited, which neither Promoter nor part of the Promoter Group. The warrants will be convertible at the option of the warrant holders in one or more tranches.

The above proposals are subject to the approval of the members of the company.

Shares of V2 RETAIL LTD. was last trading in BSE at Rs.42.65 as compared to the previous close of Rs. 44.1. The total number of shares traded during the day was 12709 in over 118 trades.

The stock hit an intraday high of Rs. 44.2 and intraday low of 42.3. The net turnover during the day was Rs. 548277.

Source : Equity Bulls

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