RNRL to allot 16,00,00,000 Equity Shares to AAA Power Systems

Reliance Natural Resources Ltd has announced that the Company on October 22, 2007, has allotted 16,00,00,000 equity shares of Rs 5 each for cash at a price of Rs 25.65 (including a premium of Rs 20.65) per Share to AAA Power Systems (Global) Pvt Ltd, upon exercise of rights attached to the outstanding warrants of the Company issued on April 28, 2006. These Shares will be subject to lock in up to April 27, 2009.

Consequent upon the said allotment, the paid-up Capital of the Company stands increased to 163,31,30,422 fully paid up equity shares of Rs 5 each.

The stock closed the day at Rs.87.10, down by Rs.0.75 or 0.85%. The stock hit an intraday high of Rs.89.20 and low of Rs.83.

The total traded quantity was 15378725 compared to 2 week average of 30412289.

Source : Equity Bulls

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