Strides Arcolab to issue 6200000 warrants

Strides Arcolab Ltd has announced that the Board of Directors has approved issue of upto 6,200,000 warrants on a preferential basis to the Promoters / Promoter Group / their Associates, subject to the approval of the shareholders.

The warrants will be convertible into equivalent number of equity shares of Rs 10/- each and will be issued at a price not lower than the price specified in Chapter XIII of the SEBI (Disclosure and Investor Protection) Guidelines, 2000 and on such further terms and conditions specified in the said guidelines.

The stock closed the day at Rs.105.20, up by Rs.6.85 or 6.96%. The stock hit an intraday high of Rs.107 and low of Rs.100.

The total traded quantity was 120562 compared to 2 week average of 80870.

Source : Equity Bulls

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