Vijay Shanthi to allot 45 Lakhs warrants

Vijay Shanthi Builders Ltd has announced that a meeting of the Board of Directors of the Company will be held on September 27, 2007, to consider the following:

1. Allotment of 45,00,000 warrants convertible into equity shares of Rs 10/- each (including a premium of Rs 85/- per share) on a preferential basis to promoter group, pursuant to the resolution passed in the EGM held on May 07, 2007 and regulatory approval dated September 13, 2007.

2. Allotment of 6,03,000 fully paid up equity shares at a price of Rs 56/- per share (including a premium of Rs 46/- per share) to promoters of the Company against an option exercised by the promoters to convert 6,03,000 convertible warrants forming a part of 19,06,300 convertible warrants earlier issued to them on a preferential basis as approved by the EGM dated December 18, 2006 and regulatory approval letter dated February 27, 2007.

The stock was trading at Rs.177.10, up by Rs.0.50 or 0.28%. The stock hit an intraday high of Rs.182.40 and low of Rs.171.50.

The total traded quantity was 7497 compared to 2 week average of 80676.

Source : Equity Bulls

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