Punj Lloyd warrants lapse

Punj Lloyd Ltd has announced that the Company had on August 10, 2007 allotted 1,00,00,000 warrants to M/s. Indtech Construction Pvt. Ltd, one of the Promoters of the Company at a price of Rs 254.

The applicant has not exercised the option to acquire the equity shares within a period of 18 months from the date of allotment i.e. on or before February 09, 2009. Therefore, the Warrants stand lapsed and the amount of Rs 25.4 crores received by the Company as advance has been forfeited.

The stock closed the day at Rs.97.20, up by Rs.1.60 or 1.67%. The stock hit an intraday high of Rs.98.95 and low of Rs.91.35.

The total traded quantity was 2453659 compared to 2 week average of 2301346.

Source : Equity Bulls

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