Balasore Alloys Updates on issue of Convertible Warrants

Balasore Alloys Ltd has announced with reference to the issuance of 80,00,000 Convertible Warrants to the Promoter Group entity / Persons Acting in Concert of the Company on preferential basis.

The Committee of Board of Directors considered and approved the issue price of Rs. 17/- per share of Rs. 5/- each based on the certificate of the Statutory Auditor in terms of the Chapter VII of the SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2009.

Further, above price based on the relevant date i.e. August 28, 2015 meets all requirements in terms of the above SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2009.

Shares of BALASORE ALLOYS LTD. was last trading in BSE at Rs.14.95 as compared to the previous close of Rs. 15.45. The total number of shares traded during the day was 24094 in over 100 trades.

The stock hit an intraday high of Rs. 15.75 and intraday low of 14.7. The net turnover during the day was Rs. 362789.

Source : Equity Bulls

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