Responsive Industries to allot CCDs

Responsive Industries Ltd has announced that the Board of Directors of the Company at its meeting held on March 03, 2009, inter alia, has approved the allotment of 7000 CCDs pursuant to the approval of members in the Extra Ordinary General Meeting held on February 10, 2009.

The Board decided the allotment of 7000 (Seven Thousand Only) 0% Compulsorily Convertible Debentures (CCDs) at a face value of Rs 1,00,000 (Rupees One Lakh only) convertible into 14,00,000 Equity Share of Rs 10 each at a price of Rs 510 (Rupees Five Hundred & Ten Only) per share being the price which is in accordance with the Securities and Exchange Board of India (Disclosure and Investors Protection) Guidelines, 2000 (SEBI DIP Guidelines), on preferential basis.

The stock closed the day at Rs.483.80, down by Rs.25.45 or 5%. The stock hit an intraday high of Rs.483.80 and low of Rs.483.80.

The total traded quantity was 50 compared to 2 week average of 50.

Source : Equity Bulls

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