Bombay Rayon Fashions to allot 1 crore warrants to Raynold Shirting Ltd

Bombay Rayon Fashions Ltd has announced that the Committee of the Board of Directors at their Meeting held on November 13, 2009 has considered and approved the allotment of 1,00,00,000 (One Crore) Convertible Warrants ("Warrants") to RAYNOLD 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.198.60, up by Rs.3.30 or 1.69%. The stock hit an intraday high of Rs.204 and low of Rs.197.

The total traded quantity was 209996 compared to 2 week average of 158440.

Source : Equity Bulls

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