Elpro International allots 60000 shares

Elpro International Ltd has announced that the Board of Directors of the Company at its meeting held on September 10, 2009, has approved pursuant to receipt of balance 90% of subscription money and a request letter from Elara India Opportunities Fund Ltd and in terms of section 81(1A) of the Companies Act and other applicable provisions, if any, of the Companies Act, 1956 and in accordance with the provisions of Articles of Association of the Company 60000 Convertible warrants of Elara India Opportunities Fund Ltd, be converted into 60000 number of Equity shares of Rs. 10/- (Rupees Ten Only) each at a premium of Rs. 601/- (Rupees Six Hundred and One Only) Shall rank pari pasu to the existing shares of the Company.

The stock was trading at Rs.573.95, up by Rs.5.10 or 0.90%. The stock hit an intraday high of Rs.579.95 and low of Rs.573.95.

The total traded quantity was 7 compared to 2 week average of 3876.

Source : Equity Bulls

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