H S India Converts Preferential Warrants

H S India Ltd has announced that the Allotment Committee of the Board at its meeting held on March 28, 2009, has approved allotment of 27,19,000/- equity shares of Rs 10/- each at a premium of Rs 4/- per share to the warrant holders listed below upon exercise of their right for conversion of 27,19,000 warrants.

Ms. Sangita Bansal - Promoter - No of Shares - 14,19,000
Mr. Mehinder Sharma - Non-Promoter - No of Shares - 3,25,000
Mr. Poonam Sharma - Non-Promoter - No of Shares - 3,25,000
Mr. Vikas Suri - Non-Promoter - No of Shares - 3,25,000
Mr. Vinod Dalvi - Non-Promoter - No of Shares - 3,25,000

Upon such conversion, the paid up capital of the Company has increased to 1,32,19,400 equity shares of Rs 10/- each. With this allotment, now there are 27,19,000 Warrants outstanding for conversion.

The stock was trading at Rs.6.07, up by Rs.0.52 or 9.37%. The stock hit an intraday high of Rs.6.07 and low of Rs.5.62.

The total traded quantity was 454 compared to 2 week average of 2804.

Source : Equity Bulls

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