Television Eighteen approves allotment of 50 Lakhs Warrants

Television Eighteen India Ltd has announced that the Board of Directors of the Company at its meeting held on September 07, 2007, has considered and approved the allotment of 50,00,000 (Fifty Lakhs Convertible Warrants, within 18 months) at a price of Rs 796/- per Convertible Warrant as per SEBI Guidelines, to Network18 India Holding Pvt Ltd, a 100% subsidiary of Network 18 Fincap Ltd, on preferential basis, subject to necessary approval of the shareholders of the Company.

The stock was trading at Rs.825, down by Rs.0.55 or 0.07%. The stock hit an intraday high of Rs.840 and low of Rs.820. The total traded quantity was 7564 compared to 2 week average of 6618.

Source : Equity Bulls

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