GS Auto International to convert 23 lakh warrants

GS Auto International Ltd has announced that the Board of Directors of the Company at its meeting held on June 30, 2009, inter alia, has decided to convert all the 2300000 (Twenty three lacs) warrants already issued @ Rs 20/- per warrant, to be converted into equal number of Equity Shares of the face value of Rs 10/- each plus premium of Rs 10/- per shares, into 4600000 (Forty Six lacs) Equity Shares of the Company, of the face value of Rs 5/- (Rs Five each) and further to issue & allot 4600000 (Forty Six Lacs) Equity shares of the face value of Rs 5/- (Rs five each) to the Investors.

The stock closed the day at Rs.17.70, down by Rs.0.45 or 2.48%. The stock hit an intraday high of Rs.18.10 and low of Rs.17.50.

The total traded quantity was 5090 compared to 2 week average of 6317.

Source : Equity Bulls

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