Monnet Ispat allots 90 lakh warrants

Monnet Ispat Ltd has announced that the Board of Directors of the Company at its meeting held on June 30, 2009, inter alia, has allotted 9,000,000 warrants at a price of Rs 201.50 each, to the promoters of the Company with the right, on exercise, to apply for an aggregate of 9,000,000 equity shares of Rs 10/- each at a premium of Rs 191.50 per share and exercisable, in more than one tranche, within a period of 18 months from the date of issue. These warrants have been allotted subject to lock-in in terms of SEBI (DIP) Guidelines 2000.

The stock closed the day at Rs.236.60, down by Rs.2.65 or 1.11%. The stock hit an intraday high of Rs.250 and low of Rs.232.10.

The total traded quantity was 22492 compared to 2 week average of 36914.

Source : Equity Bulls

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