Radico Khaitan approves allotment of 69,40,000 warrants

Radico Khaitan Ltd has announced that the Board of Directors of the Company at its meeting held on July 12, 2007, has approved the proposal for preferential allotment of 69,40,000 warrants having optional right of conversion into equity shares to the promoters @ 163.50 per warrant to be converted into 69,40,000 equity shares of Rs 2/- each at a premium of Rs 161.50 per equity share within the period not exceeding 18 months from the date of allotment.

The resolution will be considered in the Extra Ordinary General Meeting scheduled to be held on August 11, 2007.

The approval of the Board is subject to the compliance of the SEBI Guidelines.

The stock closed the day at Rs.176.55, up by Rs.2.95 or 1.70%. The stock hit an intraday high of Rs.177.50 and low of Rs.167.60. The total traded quantity was 970963 compared to 2 week average of 454218.

Source : Equity Bulls

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