Shree Ram Mills to issue 16 million warrants

Shree Ram Mills Ltd has announced that the Board of Directors of the Company at its meeting held on September 25, 2009, has approved issue of 16 million warrants convertible into Equity Shares of Rs. 10 each to be priced as per applicable SEBI Guidelines, to be allotted on preferential basis to Promoters, relatives and associates, Foreign Investors, Non-Resident Indians, and others subject to Shareholders and other required approvals.

The stock closed the day at Rs.139.60, up by Rs.3.55 or 2.61%. The stock hit an intraday high of Rs.139.85 and low of Rs.134.

The total traded quantity was 1830 compared to 2 week average of 13184.

Source : Equity Bulls

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