Malwa Cotton to issue 1100000 warrants

Malwa Cotton Spinning Mills Ltd has announced that the Board of Directors of the Company at its meeting held on April 11, 2009, has approved the issue of 11,00,000 warrants of Rs 20/- each for an aggregate value of Rs 220 lacs to the promoters of the Company on preferential basis. These warrants will be converted into Equity Shares of Rs 10/- each at a premium of Rs 10/- each in accordance with SEBI (Disclosure and Investor Protection) Guidelines, 2000.

The stock closed on Thursday at Rs.24.05, down by Rs.2.60 or 9.76%. The stock hit an intraday high of Rs.26.80 and low of Rs.24.05.

The total traded quantity was 9689 compared to 2 week average of 15273.

Source : Equity Bulls

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