Balaji Distilleries to issue warrants on preferential basis

Balaji Distilleries Ltd has announced that the Board of Directors of the Company at its meeting held on August 11, 2007, has approved the following:

1. Re-classification of the existing authorised share capital of the Company, subject to the approval of the shareholders.

2. Issue of upto 9 crore convertible warrants under a preferential offer on private placement basis to the select group of persons, subject to the approval of the shareholders and compliance of SEBI (Disclosure & Investor Protection) Guidelines, 2000.

The stock was trading at Rs.17.76, up by Rs.0.84 or 4.96%. The stock hit an intraday high of Rs.17.76 and low of Rs.17.76. The total traded quantity was 58443 compared to 2 week average of 663072.

Source : Equity Bulls

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