Tilaknagar Industries 45 lakh warrants lapse

Tilaknagar Industries Ltd has announced that with reference to the 45,00,000 convertible warrants allotted by the Board of Directors on December 14, 2007 to the promoters at an Exercise Price of Rs 157/-

Amit Dahanukar was allotted 22,50,000 warrants and Shivani Amit Dahanukar was allotted 22,50,000 warrants. The Warrant holders have informed the Company that they shall not be exercising the aforesaid warrants and accordingly, the aforesaid warrants stand lapsed. The Board of Directors of the Company at its meeting held on May 19, 2009 has forfeited the upfront payment, being 10% of the Issue Price of the 45,00,000 paid on the above mentioned convertible warrants by the Warrant holders.

The stock closed the day at Rs.116, up by Rs.16.15 or 16.17%. The stock hit an intraday high of Rs.117 and low of Rs.100.

The total traded quantity was 28735 compared to 2 week average of 7951.

Source : Equity Bulls

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