MVL to issue warrants to Bennett, Coleman & Co, DB Corp

MVL Ltd has announced that the Board of Directors of the Company at its meeting held on April 11, 2009, inter alia, has to issue on Preferential basis 71,28,755 Convertible Warrants to M/s. Bennett, Coleman & Co. Ltd, having its Registered Office at The Times of India Building, Dr. D N Road, Mumbai 400 001.

The Board also decided to issue on Preferential basis 1,00,000 Zero Coupon Unsecured Fully Convertible Debentures to M/s. DB Corp Ltd having it Registered Office at Plot No. 280, Sarkhej Gandhi Nagar Highway, Near YMCA Club, Makarba, Ahmedabad - 380051, Gujarat.

The stock was trading at Rs.72.65, up by Rs.3.45 or 4.99%. The stock hit an intraday high of Rs.72.65 and low of Rs.72.

The total traded quantity was 3582 compared to 2 week average of 3952.

Source : Equity Bulls

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