Rajeswari Foundations allots 8 lakh warrants

Rajeswari Foundations Ltd has announced that the Board of Directors at their Meeting held on July 04, 2009 has allotted 8,00,000 (Eight Lakhs only) Warrants of Rs 10/- (Rs Ten only) each to the promoters and others. These warrants entitle the holder thereof to apply for and obtain allotment on one equity share of the face value of Rs 10/- each determined as per the Guidelines for Preferential issues contained in Chapter XIII of SEBI (Disclosure & Investors Protection) Guidelines, 2000. 25% of the issue price has been received by the Company in compliance of the said Guidelines.

Further the Company has informed that, the issues of these Warrants were earlier approved by the Board of Directors in their meeting held on May 27, 2009 and by the Members in their Extra-Ordinary General Meeting held on June 22, 2009.

The stock closed on Friday at Rs.16.07, up by Rs.0.64 or 4.15%. The stock hit an intraday high of Rs.16.20 and low of Rs.15.55.

The total traded quantity was 13601 compared to 2 week average of 9527.

Source : Equity Bulls

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