Himalya International to allot 5 million warrants at Rs 18.30 to BCCL

Himalya International Ltd (HIL) has announced that the Company passes a special resolution on allotment of 5 mn warrants to BCCL at Rs 18.30 per share which is 28% and 40% premium on the closing price of February 09 (date of announcement) and March 05 (date of members approval), 2009 respectively.

On exercise of the warrant options BCCL's holding will be 14.76% in HIL.

Additional equity will facilitate Himalya's Expansion Plans in Gujarat, establishing & strengthening its Brand 'Himalya Fresh' and enhance its Corporate Image in domestic as well as international market.

The stock closed the day at Rs.12.82, down by Rs.0.23 or 1.76%. The stock hit an intraday high of Rs.13.49 and low of Rs.11.05.

The total traded quantity was 6413 compared to 2 week average of 12247.

Source : Equity Bulls

Keywords