Raj Rayon allots 1927000 Warrants with convertible option on preferential basis

Raj Rayon Ltd has announced that pursuant to the Special Resolution passed by the members of the Company on February 18, 2009 by way of Postal ballot, the Board of Directors met on February 26, 2009 and issued 19,27,000 (Nineteen Lacs and Twenty Seven Thousand only) Warrants with option for conversion into equal number of Equity Shares at a later date to Raj Money Market Ltd, a promoter group company.

The stock was trading at Rs.5.60, down by Rs.0.10 or 1.75%. The stock hit an intraday high of Rs.5.60 and low of Rs.5.60.

The total traded quantity was 511 compared to 2 week average of 2149.

Source : Equity Bulls

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