Greenply Industries allots shares, warrants on Rights Basis

Greenply Industries Ltd has announced that pursuant to the Letter of Offer dated September 14, 2009 in respect of the rights issue of the Company and in accordance with the basis of allotment approved by regulatory authority on October 16, 2009, the Right Issue Committee of the Board of Directors of the Company at its meeting held on October 16, 2009 has allotted 50,99,234 equity shares of Rs. 5/- each to the shareholders of the Company as on record date and / or to their renouncees, at a premium of Rs. 85/- per equity share, for an amount aggregating to Rs. 4,589.31 lacs on a rights basis as detailed in the statement placed before the Meeting and initiated by the Chairperson for the purpose of identification.

Further, the said Committee has also issued and allotted four detachable Warrant(s) for every ten Equity Share(s) allotted as above on a right basis to the eligible shareholder and accordingly 20,39,694 detachable warrants have been issued and allotted to the eligible shareholders as detailed in the statement placed before the Meeting and initiated by the Chairperson for the purpose of identification.

The stock closed the day at Rs.120.90, up by Rs.1.45 or 1.21%. The stock hit an intraday high of Rs.123.90 and low of Rs.120.

The total traded quantity was 281 compared to 2 week average of 10965.

Source : Equity Bulls

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