Rain Commodities to consider allotment of 1563293 shares

Rain Commodities Ltd has announced that a meeting of the Board of Directors of the Company will be held on May 21, 2008, inter alia, to consider allotment of 15,63,293 Equity Shares to Focus India Brands Pvt Ltd (Promoter) at a price of Rs 200/- each (Rs 10/- face value + Rs 190/- Premium) consequent to the conversion of 15,63,293 Equity Warrants into Equity Shares.

Further the Company has informed that, these Equity Warrants were issued on November 29, 2006.

The stock closed the day at Rs.216.10, down by Rs.3.75 or 1.71%. The stock hit an intraday high of Rs.223 and low of Rs.213.50.

The total traded quantity was 40203 compared to 2 week average of 59716.

Source : Equity Bulls

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