BSEL Infrastructure Cancels Equity Warrants allotted to the Promoters

BSEL Infrastructure Realty Ltd has announced that the Company has issued on preferential basis 58,00,000 Convertible Equity Warrants to the promoters of the Company for Rs 10/- each at a premium of Rs 67/- each, in pursuance of the approval accorded by the Members of the Company at the EGM held on June 06, 2007 and in respect of which in-principle approval has been granted by the stock exchanges.

As Promoters have not exercised their right to pay the balance amount and to opt for conversion of the Warrants into Shares within the time stipulated under the preferential guidelines, the aforesaid warrants now stand lapsed.

The stock was trading at Rs.15.35, up by Rs.1.26 or 8.94%. The stock hit an intraday high of Rs.15.39 and low of Rs.14.05.

The total traded quantity was 48081 compared to 2 week average of 54839.

Source : Equity Bulls

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