Balasore Alloys Ltd allots 80 lakh warrants

Pursuant to the in-principle approval granted by the stock exchange for Issue and allotment of 80,00,000 Convertible Warrants and further to the approval given by the shareholders in the Annual General Meeting of Balasore Alloys Ltd held on September 29, 2015, the Committee for Preferential Issue of Warrants of the Board of Directors, at its meeting held on October 12, 2015 has allotted 80,00,000 (Eighty Lacs) Convertible Warrants to Jaltarang Vanijya Pvt. Ltd., a Promoter Group entity / Persons Acting in Concert ("PAC") on Preferential basis which shall entitle the Warrant holder to equivalent number of equity shares of Rs. 5/- each of the Company at a price of Rs. 17/- per share.

Shares of BALASORE ALLOYS LTD. was last trading in BSE at Rs.16.45 as compared to the previous close of Rs. 16.54. The total number of shares traded during the day was 28254 in over 85 trades.

The stock hit an intraday high of Rs. 16.75 and intraday low of 16.2. The net turnover during the day was Rs. 467789.

Source : Equity Bulls

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