Unitech allots 22.75 crore warrants at Rs 48.75

Unitech Ltd has announced that the Committee of Directors (CoD) of the Company at its meeting held on June 29, 2009 has allotted 22,75,00,000 Warrants convertible into equal number of Equity Shares of Rs 2/- each at a premium of Rs 48.75 per share on preferential basis to M/s. Harsil Projects Pvt. Ltd, a promoters group Company.

Further note that these warrants shall be converted into equal number of Equity Shares within a period not exceeding eighteen months from the date of allotment of the Warrants, in one or more tranches.

The stock closed the day at Rs.85.30, up by Rs.2.95 or 3.58%. The stock hit an intraday high of Rs.87 and low of Rs.83.75.

The total traded quantity was 17570427 compared to 2 week average of 22526676.

Source : Equity Bulls

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