Pioneer Distilleries to issue 16 lakh warrants at Rs 36.10

Pioneer Distilleries Ltd has announced that the Board of Directors of the Company at its meeting held on June 27, 2009, inter alia, has approved issue of 16,00,000 Warrants to the promoters / promoter group and non-promoters, each warrant entitling the warrant-holder to subscribe for and be allotted one equity share of the face value of Rs 10/- each, at a price of Rs 36.10 per share.

The minimum price computed in accordance with the SEBI Preferential Issue Guidelines is Rs 36.09 per share. The Company is offering the shares to be subscribed by the applicant at Rs 36.10 per share.

The stock was trading at Rs.35, up by Rs.1.90 or 5.74%. The stock hit an intraday high of Rs.35.60 and low of Rs.34.10.

The total traded quantity was 1174 compared to 2 week average of 2740.

Source : Equity Bulls

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