Karuturi Networks allots shares to Lehman Brothers, Goldman Sachs and Bennett, Coleman & Co Ltd

Karuturi Networks Ltd has announced that the Board of Directors of the Company at its meeting held on September 14, 2007, inter alia, has transacted the following business:

1. The Board has made allotment of 11,06,250 equity shares to the FCCB bond holders who have exercised the option of conversion. The details of allotment is as under:

(a) Lehman Brothers International (Europe) : 921,875 No of shares allotted

(b) Goldman Sachs International : 184,375 No of shares allotted

2. The Board has made allotment of 300,000 shares to Bennett, Coleman & Co Ltd, New Delhi, who have exercised the option of convening warrants allotted to them on preferential basis into equity shares.

The stock closed the day at Rs.223.05, down by Rs.6.60 or 2.87%. The stock hit an intraday high of Rs.237 and low of Rs.219.25. The total traded quantity was 410629 compared to 2 week average of 652799.

Source : Equity Bulls

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