Deep Industries forfeits Convertible Warrants

Deep Industries Ltd has announced that the Company had made preferential allotment of 20,00,000 Convertible Warrants of Rs 200/- each aggregating to Rs 40.00 crores on January 31, 2008. Each such warrant was convertible into one equity share of Rs 10/- each at a premium of Rs 190/- per share within 18 (eighteen) months from the date of allotment.

The stock was trading at Rs.81.90, up by Rs.2 or 2.50%. The stock hit an intraday high of Rs.82 and low of Rs.77.

The total traded quantity was 83483 compared to 2 week average of 147112.

Source : Equity Bulls

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