Balaji Distilleries to convert 9 crore warrants into shares

Balaji Distilleries Ltd has announced that pursuant to the in-principle approval obtained from the Exchanges for the issue and allotment of convertible warrants in terms of clause 24(a) of the listing agreement and subsequent receipt of balance 90% (i.e. Rs 12.402 per warrant aggregating to Rs 111.618 crores) of the price fixed and payable at the time of conversion of warrants into equity shares, the Board has considered and approved the conversion / allotment of 9 crore equity shares on preferential basis to the warrant holders.

The stock closed the day at Rs.25.85, down by Rs.0.20 or 0.77%. The stock hit an intraday high of Rs.28 and low of Rs.25.

The total traded quantity was 80657 compared to 2 week average of 235708.

Source : Equity Bulls

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