Ahmednagar Forgings allots 1830000 Equity Shares

Ahmednagar Forgings Ltd has announced that Allotment Committee of Board of Directors of the Company in their meeting held on November 09, 2009 has allotted 18,30,000 Equity Shares upon conversion of warrants into equivalent number of equity shares of Rs. 10/- each at a premium of Rs. 37/- aggregating to Rs. 8.60 Crores to the promoters group Companies by way of Preferential allotment.

Further the Convertible warrants issued by the Company are exercised by the allottes within the currency period of warrants which were allotted on July 08, 2009 in terms of Chapter XIII of the SEBI (Disclosure & Investors Protection) Guidelines, 2000.

The stock closed the day at Rs.60.10, up by Rs.1.10 or 1.86%. The stock hit an intraday high of Rs.61.75 and low of Rs.59.

The total traded quantity was 376192 compared to 2 week average of 55883.

Source : Equity Bulls

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