Diamond Cables allots 738410 shares

Diamond Cables Ltd has announced that the Board of Directors of the Company at its meeting held on December 18, 2008, has allotted 738410 shares on conversion of warrants.

The Board has made an allotment of 5,38,410 Equity Shares to M/s. Diamond Tele-Cabs Pvt. Ltd on conversion of 538,410 Equity Warrants into 5,38,410 Equity Shares of Rs 10/- each (at a premium of Rs 141/- per shares, balance 90% received @ Rs 135.90 per share) out of total 12,38,410 Equity Warrants.

Ms. Clearwater Capital Partners Cyprus Ltd was allotted 2,50,000 Equity Shares on conversion of 2,50,000 Equity Warrants into 2,50,000 Equity Shares of Rs 10/- each (at a premium of Rs 141/- per shares, balance 90% being received @ Rs 135.90 per shares for entire 10,00,000 Equity Warrants) out of total 10,00,000 Equity Warrants.

The stock closed the day at Rs.127.75, down by Rs.1.40 or 1.08%. The stock hit an intraday high of Rs.129.80 and low of Rs.122.70.

The total traded quantity was 6612 compared to 2 week average of 39144.

Source : Equity Bulls

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