Riddhi Siddhi allots 585000 shares at Rs.200

Riddhi Siddhi Gluco Biols Ltd has announced that the Board of Directors of the Company at its meeting held on October 23, 2007, has allotted 5,85,000 equity shares of Rs 10 each at a premium of Rs 190 per shares to Promoters and M/s. Roquette Freres (France) against conversion of outstanding warrants.

Pursuant to the above allotment all the outstanding warrants have been converted.

The stock was trading at Rs.254.45, up by Rs.13.50 or 5.60%. The stock hit an intraday high of Rs.255 and low of Rs.240.

The total traded quantity was 5306 compared to 2 week average of 5479.

Source : Equity Bulls

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