Bombay Dyeing Promoters allow warrants to lapse

Bombay Dyeing & Manufacturing Company Ltd has announced that the Bombay Burmah Trading Corporation Ltd., a Company in the Promoter group, has not exercised by February 28, 2009 as required in accordance with the terms of the issue, the option to convert 19,30,000 warrants issued on a preferential basis, into equivalent number of equity shares. The validity of the said warrants, therefore, has lapsed.

The stock closed the day at Rs.139.05, down by Rs.6.80 or 4.66%. The stock hit an intraday high of Rs.148.30 and low of Rs.136.

The total traded quantity was 209858 compared to 2 week average of 145776.

Source : Equity Bulls

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