Arihant Foundations to allot 15.5 lakh warrants

Arihant Foundations & Housing Ltd has announced that the Board of Directors of the Company at its meeting held on May 25, 2009, has decided to issue and allot 15,50,000 equity warrants to the promoters and other investors subject to the approval of the shareholders and other regulatory authorities.

The Board approved the proposal to convene the Extraordinary General Meeting of the shareholders on June 22, 2009 to seek approval for the said issue and allotment.

The issue and allotment of the warrants shall be as per the SEBI Guidelines.

The Board also approved the proposal to cancel 9,50,000 nos. of warrants issued earlier.

The stock closed the day at Rs.102.55, up by Rs.4.85 or 4.96%. The stock hit an intraday high of Rs.102.55 and low of Rs.102.55.

The total traded quantity was 175 compared to 2 week average of 1686.

Source : Equity Bulls

Keywords