Gremach Infrastructure approves allotment of 4.9 crore warrants

Gremach Infrastructure Equipments & Projects Ltd has announced that the Board of Directors of the Company at its meeting held on June 11, 2009, inter alia, has considered discussed and approved the allotment of 4,90,00,000 equity warrants convertible into equity shares of the Company to the Promoters / Promoter Group / Investors on Preferential basis with an option attached to the warrant holder to acquire, for every warrant, one fully paid up equity share within 18 months from the date of allotment of the warrants in accordance with Securities and Exchange Board of India (Disclosure & Investor Protection) Guidelines, 2000 as amended from time to time.

The stock was trading at Rs.42.85, down by Rs.2.25 or 4.99%. The stock hit an intraday high of Rs.44.80 and low of Rs.42.85.

The total traded quantity was 57788 compared to 2 week average of 331711.

Source : Equity Bulls

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