Everonn Systems to allot shares, warrants to New Vernon India, Deutsche Securities & The India Fund

Everonn Systems India Ltd has announced that the Board of Directors of the Company at its meeting held on June 17, 2008 has approved allotment of equity shares on preferential basis.

New Vernon India Ltd was allotted 6,67,015 Equity Shares, Deutsche Securities Mauritius Ltd was allotted 2,70,047 Equity Shares and The India Fund, Inc - 3,32,157 Equity Shares.

The Board also approved allotment of convertible equity warrants on preferential basis.

New Vernon India Ltd will be issued 1,90,576 Equity Warrants, Deutsche Securities Mauritius Ltd - 77,156 Equity Warrants and The India Fund, Inc - 94,902 Equity Warrants.

The stock was trading at Rs.633.70, up by Rs.24.55 or 4.03%. The stock hit an intraday high of Rs.639.60 and low of Rs.614.

The total traded quantity was 15882 compared to 2 week average of 38462.

Source : Equity Bulls

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