Parenteral Drugs allots 1200000 shares on conversion of warrants

Parenteral Drugs India Ltd has now announced with reference to the earlier annoucement dated February 25, 2008 regarding the Company had informed that it had issued 38,00,000 warrants of Rs. 10/- each at a premium of Rs. 176.41 convertible into equal number of equity shares within a period of 18 months as per the Chapter XIII of SEBI (DIP) Guidelines, 2000, to selected persons, institutions, including promoters of the Company on preferential basis, that the Board of Directors of the Company at its meeting held on August 24, 2009, has allotted 12,00,000 fully paid up equity shares of Rs. 10/- each to the promoters of the Company who have exercised their right to conversion of their 12,00,000 warrants.

The stock closed the day at Rs.98, down by Rs.1.40 or 1.41%. The stock hit an intraday high of Rs.101.70 and low of Rs.98.

The total traded quantity was 4552 compared to 2 week average of 5641.

Source : Equity Bulls

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