Gremach Infrastructure allots 9390000 Shares on conversion of Preferential Warrants

Gremach Infrastructure Equipments & Projects Ltd has announced that the Board of Directors of the Company at its meeting held on June 22, 2009, inter alia, has considered, discussed and approved the allotment of 93,90,000 equity shares on conversion of warrants to the Promoters / Promoter Group / Investors on exercising of option attached to the warrant holder to acquire, 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.34.10, up by Rs.1.60 or 4.92%. The stock hit an intraday high of Rs.34.10 and low of Rs.31.70.

The total traded quantity was 113192 compared to 2 week average of 303664.

Source : Equity Bulls

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