NCL Industries allots 800000 Equity shares on conversion of Warrants

NCL Industries Ltd has announced that the authorized sub-committee of the Board at its meeting held on March 23, 2009, has approved allotment of 8,00,000 equity shares of Rs 10/- each at a premium of Rs 35/- per share to the warrant holders amongst the promoters / promoter group on Preferential Allotment basis upon exercise of their right for conversion of 8,00,000 warrants. Consequently the paid up capital of the Company has increased to 33819683 equity shares of Rs 10/- each. With this allotment, now there are 11,17,652 Warrants outstanding for conversion.

The stock closed the day at Rs.20.75. The stock hit an intraday high of Rs.21.65 and low of Rs.20.50.

The total traded quantity was 20929 compared to 2 week average of 9510.

Source : Equity Bulls

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