Baba Arts allots 200000 equity shares upon conversion of warrants

Baba Arts Ltd has announced that the Board of Directors of the Company by their circular resolution approved on November 16, 2007, have allotted 200000 Equity shares upon exercise of warrants as under:

a. 100000 Equity Shares of Rs 4/- each at a premium of Rs 40/- per share to Mr. Raju P Tanwani belonging to the Promoter Group.

b. 100000 Equity Shares of Rs 4/- each at a premium of Rs 40/- per share to Mr. Kumar Mangat Pathak belonging to the Non Promoter Group.

The stock was trading at Rs.51, up by Rs.1.55 or 3.13%. The stock hit an intraday high of Rs.53.55 and low of Rs.50.

The total traded quantity was 10086 compared to 2 week average of 34062.

Source : Equity Bulls

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