Autolite (India) Ltd approves preferential allotment of warrants

The Board of Directors of Autolite (India) Ltd at its meeting held on September 29, 2015, has approved the allotment of 500,000 warrants convertible within 18 months at Rs. 18/- per warrant convertible into 500,000 equity shares of Rs. 10/- at a premium of Rs. 8/- per share on preferential basis to the promoters.

The Board also approved the allotment of 100,000 warrants convertible within 18 months at Rs. 18/- per warrant convertible into 100,000 equity shares of Rs. 10/- at a premium of Rs. 8/- per share on preferential basis to the strategic investors.

Shares of AUTOLITE (INDIA) LTD. was last trading in BSE at Rs.51.9 as compared to the previous close of Rs. 51.5. The total number of shares traded during the day was 6118 in over 76 trades.

The stock hit an intraday high of Rs. 53.65 and intraday low of 48.6. The net turnover during the day was Rs. 313103.

Source : Equity Bulls

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