Bombay Rayon to consider allotment of 1 crore warrants on Nov 13, 2009

Bombay Rayon Fashions Ltd has announced that a Meeting of the Committee of the Board of Directors shall be held on November 13, 2009, wherein the Committee shall consider and approve the Allotment of 1,00,00,000 (One crores) Convertible Warrants ('Warrants') to REYNOLD SHIRTING LTD, an entity belonging to Promoter Group, each Warrant being convertible, at the option of the Warrant holder, within a period of 18 months from the date of issue, into one Equity Share of Rs. 10/- each for cash at an exercise price of Rs. 193/- determined in accordance with SEBI Guidelines for Preferential Issues.

The stock closed the day at Rs.195.30, down by Rs.2.05 or 1.04%. The stock hit an intraday high of Rs.199 and low of Rs.191.65.

The total traded quantity was 50191 compared to 2 week average of 163308.

Source : Equity Bulls

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