Khandwala Securities fixes Rs 48 as Offer Price for Preferential Issue

Khandwala Securities Ltd has announced that in the meeting of Board of Directors of the Company held on October 25, 2007, has considered and approved issuance of 18,41,000 Convertible Warrants to be converted into equal number of equity shares on a Preferential Basis to Promoter Group, subject to approval of Shareholders in the EGM to be held on December 03, 2007. As per the SEBI (DIP) Guidelines, offer price as on the Relevant Date i.e. November 03, 2007 calculates to Rs 48/- per share.

The Stock closed the day at Rs.47.50, up by Rs.1.05 or 2.26%. The stock hit an intraday high of Rs.48.20 and low of Rs.45.

The total traded quantity was 515 compared to 2 week average of 3954.

Source : Equity Bulls

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