Avon Lifesciences Ltd approves conversion of Warrants into Equity

As per the terms of 1,05,00,000 (One Crore Five Lacs) Warrants issued by Avon Lifesciences Ltd on August 12, 2015 on preferential basis, the Allotment Committee of the Board of Directors of the Company at the meeting held on November 27, 2015, has upon receipt of balance of 75% consideration aggregating to Rs. 19,50,000/- (Rupees Nineteen Lacs Fifty Thousand only) has approved allotment of 1,00,000 (One Lac) Equity Shares upon conversion of equivalent number of warrants at an issue price of Rs. 26 per share.

Shares of AVON ORGANICS LTD. was last trading in BSE at Rs.48.1 as compared to the previous close of Rs. 46.8. The total number of shares traded during the day was 53056 in over 252 trades.

The stock hit an intraday high of Rs. 49.4 and intraday low of 46.7. The net turnover during the day was Rs. 2554714.

Source : Equity Bulls

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