Shriram City Union Finance warrants lapse

Shriram City Union Finance Ltd has announced that Shriram Retail Holdings Pvt. Ltd. ("SRHPL") has informed the Company vide its letter dated October 23, 2009 that 35,00,000 warrants of the Company held by SRHPL which are convertible into 35,00,000 shares on or before November 15, 2009 will not be exercised by SRHPL.

The said warrants allotted to SRHPL on May 16, 2008 have accordingly been cancelled.

The stock closed the day at Rs.383.40, up by Rs.8.40 or 2.24%. The stock hit an intraday high of Rs.383.40 and low of Rs.371.

The total traded quantity was 128 compared to 2 week average of 602.

Source : Equity Bulls

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