Kalpena Industries cancels allotment of CCDs

Kalpena Industries Ltd has now announced with reference to earlier annoucement dated July 18, 2009 regarding cancellation of Preferential Allotment of CCDs, that Board of Directors of the Company at its meeting held on June 27, 2009, has cancelled the allotment of 9,50,000 CCDs of Rs 10/- each at a premium of Rs 83.15/- to (1) Banyan Tree Growth Capital ('BTGC') and (2) Financiering Maatschappij Voor Ontwikkelingslanden N V ('FMO' which term shall include their affiliates and nominees), due to certain disputes arose with them. The Company in compliance with Regulation 13.4.3 of SEBI (DIP) Guidelines, 2000 has not issued any CCDs to the allottees.

Further the Company has informed that the COmpany is not proposing any Preferential Issue of CCDs to the Investors.

The stock was trading at Rs.70.30, down by Rs.2.65 or 3.63%. The stock hit an intraday high of Rs.75 and low of Rs.70.30.

The total traded quantity was 3073 compared to 2 week average of 8273.

Source : Equity Bulls

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