Reliance Energy allots 4.3 Crore warrants

Reliance Energy Ltd has announced that the Committee of Directors (Allotment) on January 20, 2008, has allotted 4,30,00,000 warrants convertible into equivalent number of equity shares of the Company of Rs 10 each at a price of Rs 1,822.08 (including a premium of Rs 1,812.08) per warrant to AAA Project Ventures Pvt Ltd.

These Warrants shall be convertible into equivalent number of equity shares of the Company at any time up to July 19, 2009 and will be subject to look in up to January 19, 2011.

The stock was trading at Rs.2086, down by Rs.38.05 or 1.79%. The stock hit an intraday high of Rs.2187 and low of Rs.2060.

The total traded quantity was 942290 compared to 2 week average of 1045783.

Source : Equity Bulls

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