Neha International allots shares, warrants at Rs 42

Neha International Ltd has announced that the Board of Directors of the Company at its meeting held on December 03, 2007, has allotted 19,55,000 equity shares & 4250000 Convertible Share Warrants of Rs 10/- each at a premium of Rs 32/- each on preferential basis to Promoters and Others.

The details of allocation are as below:

1. Allande International Investments Ltd: 930000
2. Consolidated Securities Ltd: 250000
3. Jai Salasar Balaji Industries Pvt Ltd: 200000
4. Tarun Kumar Pravinchandra Sheth: 150000
5. Choukhany Leasing & Finance Co. (P) Ltd: 100000
6. P C Shrimal: 100000
7. Ritz Credit Promotion (p) Ltd: 85000
8. P N Thomas: 50000
9. Trimurthi Advisory Services (P) Ltd: 25000
10. S Jhansi: 25000
11. N Himabindu: 10000
12. G Sandhya Rani: 10000
13. Ramesh Kumar p Shah 10000
14. N Maheshwari: 5000
15. Pradeep Kumar Dhandhania: 5000

Convertible Share Warrants

1. G Vinod Reddy (Promoter): 20,00,000
2. MVR Projects (P) Ltd (Promoter Group): 10,00,000
3. Consolidated Securities Ltd: 7,50,000
4. Harvic Management Services (I) Ltd: 2,50,000
5. Kanu C Shah: 2,50,000

Further the Company has informed that, the Board also noted the making of application of FIPB for approval of allotment of 75,22,958 equity shares of Rs 10/- each at a premium of Rs 32/- per share by way of swap for consideration towards acquisition of overseas business as per the stock exchange in-principal approval. These shares will be allotted on receipt of FIPB approval.

The stock closed the day at Rs.50.50, down by Rs.0.50 or 0.98%. The stock hit an intraday high of Rs.51 and low of Rs.48.50.

The total traded quantity was 8200 compared to 2 week average of 9780.

Source : Equity Bulls

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