Monnet Ispat forfeits warrants application money

Monnet Ispat Ltd has announced that the Company has received notices from the subscribers of 50,00,000 warrant holders informing that they wish to withdraw their right to exercise the option to convert these warrants into equity shares within the stipulated period of their currency.

The Company has considered and accepted their request and consequently, their right to convert warrants into equity shares and the subscription money paid for these warrants stand forfeited in compliance of Clause 13.1.2.3 (c) of SEBI (Disclosure & Investor Protection) Guidelines, 2000.

The stock closed the day at Rs.153, down by Rs.4.05 or 2.58%. The stock hit an intraday high of Rs.160 and low of Rs.151.60.

The total traded quantity was 9085 compared to 2 week average of 10938.

Source : Equity Bulls

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