Tilaknagar Industries to approve issue of shares on Aug 14, 2009

Tilaknagar Industries Ltd has announced that a meeting of the Board of Directors of the Company will be held on August 14, 2009, inter alia, to consider and approve the allotment of 2,00,000 Equity Shares of Rs 10 each at a premium of Rs 84/- per share against conversion of equivalent number of Compulsorily Convertible Cumulative Preference Shares (CCPS) allotted to Mr. Amit Dahanukar, Promoter of the Company on March 26, 2009.

The Board will also approve allotment of 41,70,000 Equity Shares of Rs 10 each at a premium of Rs 82/- per share against conversion of equivalent number of Convertible Warrants allotted to Mrs. Shivani Amit Dahanukar on July 02, 2009.

The stock was trading at Rs.172.50, up by Rs.1.15 or 0.67%. The stock hit an intraday high of Rs.176.50 and low of Rs.165.50.

The total traded quantity was 2890 compared to 2 week average of 10673.

Source : Equity Bulls

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