Aarti Drugs allots 4 lakh shares

Aarti Drugs Ltd has announced that the Board of Directors of the Company at its meeting held on December 20, 2009, inter alia, has allotted 4,00,000 equity shares of Rs. 10/- each fully paid up against exercise of option of conversion by the holders of Convertible warrants issued by the Company on preferential basis to the promoters / promoter group companies and other persons in due compliance with the applicable SEBI DIP Guidelines and law.

These convertible warrants were issued by the Company on September 19, 2008 at a price of Rs. 52.60 ps. (including premium of Rs. 42.60 ps.) per share in due compliance of applicable SEBI DIP Guidelines.

As a result of this, the Company's paid-up share capital has increased from Rs. 117085500/- to Rs 121085500/- divided into 12108550 equity shares of Rs.10/- each fully paid up.

The stock was trading at Rs.104.60, up by Rs.7.90 or 8.17%. The stock hit an intraday high of Rs.109.40 and low of Rs.97.95.

The total traded quantity was 392424 compared to 2 week average of 288452.

Source : Equity Bulls

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