Rungta Irrigation allots 2050000 warrants

Rungta Irrigation Ltd has announced that the Board of Directors of the Company at its meeting held on August 29, 2009, has been decided to issue and allot 20,50,000 Convertible Warrants of Rs. 35/- each as per the SEBI (DIP) Guidelines and other applicable rules and regulations, if any, to following persons. Further, one warrant is equivalent to one equity share.

The allotees include M/s. Samara Realty Pvt. Ltd - 9,50,000 warrants and M/s. Pleasure Investments Pvt. Ltd - 11,00,000 warrants.

The stock closed the day at Rs.38.95, up by Rs.1.35 or 3.59%. The stock hit an intraday high of Rs.38.95 and low of Rs.38.90.

The total traded quantity was 150 compared to 2 week average of 444.

Source : Equity Bulls

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