Rico Auto allots 97 lakh Fully Convertible Warrants

Rico Auto Industries Ltd has announced that the Share Transfer Committee of Board of Directors of the Company in its meeting held on July 11, 2009 has allotted 97,00,000 (Ninety seven lacs only) fully convertible warrants into equivalent number of equity shares of Re 1/- each at a premium of Rs 16.50/- (Rupees Sixteen and paise fifty only) to M/s. Kapsons Associates Investments Pvt. Ltd, the Promoter Group Company by way of preferential allotment basis in terms of Chapter XIII of the SEBI (Disclosure & Investor Protection) Guidelines, 2000.

The stock was trading at Rs.15.30, down by Rs.0.85 or 5.26%. The stock hit an intraday high of Rs.15.80 and low of Rs.15.10.

The total traded quantity was 6047 compared to 2 week average of 32199.

Source : Equity Bulls

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