Indo Amines utilizes money raised through preferential issue

Indo Amines Ltd has announced that the Company has collected Rs 48.75 lacs towards issue of equity shares on preferential basis to the promoters on conversion of convertible warrants out of which Rs 45.11 lacs has been utlilised for payment of Sundry creditors and balance amount of Rs 3.64 lacs has been also utilized for payment of creditors of engineering works & balance Rs 42 thousand used for miscellaneous creditors.

Further the Company has informed that, all amt. raised wide convertible warrants has been duly utilized.

The stock was trading at Rs.11.58, down by Rs.0.42 or 3.50%. The stock hit an intraday high of Rs.13.46 and low of Rs.10.36.

The total traded quantity was 2451 compared to 2 week average of 1946.

Source : Equity Bulls

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