Som Distilleries to issue warrants at Rs 22.10

Som Distilleries & Breweries Ltd has announced that the Board of Directors of the Company at its meeting held on September 04, 2008, inter alia, has decided to increase the authorized capital of the Company from Rs 23 crores to Rs 35 crores.

To issue 94,34,800 warrants convertible into equal number of equity shares of Rs 10 each to named promoters / non promoters at a price of Rs 22.10 per share on preferential basis, being the price as per clause 13 of SEBI (Disclosure and Investor Protection) Guidelines 2000. The relevant date is August 31, 2008.

The stock was trading at Rs.23, up by Rs.0.80 or 3.60%. The stock hit an intraday high of Rs.23.95 and low of Rs.22.50.

The total traded quantity was 3064 compared to 2 week average of 10407.

Source : Equity Bulls

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