Aditya Birla Nuvo allots 1.85 crore Warrants

Aditya Birla Nuvo Ltd has announced that the Investor Relations and Finance Committee of the Directors of the Company, at its meeting held on June 22, 2009, has allotted 1,85,00,000 Warrants to the Promoter Group Companies. These Warrants entitle the holder thereof to apply for and obtain allotment of one equity share of the face value of Rs 10/- each at a premium of Rs 531.19 per share determined as per the Guidelines for Preferential Issues contained in Chapter XIII of SEBI (Disclosure & Investors Protection) Guidelines, 2000. 25% of the issue price has been received by the Company in compliance of the said Guidelines.

The issue of these Warrants were earlier approved by the Board of Directors in their meeting held on May 18, 2009 and by the Members in their Extra-Ordinary General Meeting held on June 17, 2009.

The stock closed the day at Rs.887.10, down by Rs.2.05 or 0.23%. The stock hit an intraday high of Rs.932 and low of Rs.877.

The total traded quantity was 27799 compared to 2 week average of 48314.

Source : Equity Bulls

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