Berger Paints allots 2.72 crore shares

Berger Paints India Ltd has announced that subsequent to the in principle approvals from the regulatory authorities, the Company has, on November 13, 2009, concurrently and simultaneously converted 20,000,000 equity warrants issued earlier to Jenson and Nicholson (Asia) Ltd, a promoter of the Company, into 20,000,000 equity shares of a face value of Rs. 2 each at a price of Rs. 49.50 per equity share and has issued and allotted the said equity shares to Jenson and Nicholson (Asia) Ltd.

The Board issued and allotted 7,200,000 equity shares of a face value of Rs. 2/- each to Nalanda India Fund Limited at a price of Rs 50.50.

As a result of the aforesaid issues, the paid up capital of the Company stands increased from Rs. 637,744,928 to Rs. 692,144,928.

The stock closed the day at Rs.56.25, up by Rs.1.70 or 3.12%. The stock hit an intraday high of Rs.56.90 and low of Rs.55.15.

The total traded quantity was 70012 compared to 2 week average of 59987.

Source : Equity Bulls

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