Havells India allots 2250000 Equity Shares on Conversion of Warrants

Havells India Ltd has announced that Finance Committee of the Board of Directors of the Company at its Meeting held on February 04, 2009 has allotted 2,250,000 fully paid up equity shares of Rs 5/- each to M/s. Seacrest Investment Ltd (a Warburg Pincus Group Company) pursuant to the conversion of 2,250,000 Warrants (each Warrant convertible into 1 equity share of Rs 5/- each) by M/s. Seacrest Investment Ltd at an agreed price of Rs 690/- per warrant (of which Rs 69/- per warrant aggregating to Rs 155,250,000 which had already been paid at the time of allotment of the said 2,250,000 Warrants).

The stock closed the day at Rs.115, up by Rs.2.20 or 1.95%. The stock hit an intraday high of Rs.116.95 and low of Rs.113.

The total traded quantity was 145612 compared to 2 week average of 22828.

Source : Equity Bulls

Keywords