Vijay Shanthi Builders cancels warrants, forfeits warrants application money

Vijay Shanthi Builders Ltd has announced that the Company had allotted 45,00,000 warrants to three persons of promoter group of the Company, on September 27, 2007, at a price of Rs 95 per warrant, to be converted into one equity share each. The warrants were due for conversion on or before March 26, 2009, as per SEBI (Disclosure and Investor Protection) Guidelines, 2000.

The Company have been informed by the three persons of promoter group, that no option for the conversion of warrants of equity shares shall be exercised by them and hence the upfront money for the allotment of warrant amounting to Rs 4,27,50,000/- paid by them to the Company stands forfeited.

The stock closed the day at Rs.13.09, up by Rs.0.39 or 3.07%. The stock hit an intraday high of Rs.13.35 and low of Rs.12.50.

The total traded quantity was 6464 compared to 2 week average of 35938.

Source : Equity Bulls

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