Autolite India cancels 20.50 lakh Warrants

Autolite India Ltd has announced that out of 24.50 Lacs warrants issued at Rs. 47.50 per warrant by the Company on April 21, 2008, 20.50 Lacs warrants are hereby cancelled due non-payment of balance amount required for conversion of warrants into equity shares. The amount tendered for the issue of 20.50 Lacs warrants is hereby forfeited. The balance 4 Lacs warrants were already converted into equity shares on March 31, 2009.

The stock closed the day at Rs.33.70, up by Rs.0.10 or 0.30%. The stock hit an intraday high of Rs.35.25 and low of Rs.32.20.

The total traded quantity was 5933 compared to 2 week average of 3843.

Source : Equity Bulls

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