Sujana Towers approves issue of 32 lakh shares, 3.13 crore warrants

Sujana Towers Ltd has announced that, pursuant to the Special Resolution passed by the Members of the Company through Postal Ballot on December 19, 2009 and the approvals given by the Regulatory Authorities, the Management Committee of the Board of Directors of the Company at its meeting held on December 21, 2009 has approved the resolution to issue and allot 32,00,000 Lakhs equity shares and 3,13,00,000 convertible warrants of Rs. 5/- each at a premium of Rs. 50/-per share / warrant to the Promoter's Group under Section 81(1A) of the Companies Act, 1956 by way of Preferential Basis.

The stock was trading at Rs.50.90, up by Rs.0.10 or 0.20%. The stock hit an intraday high of Rs.51.70 and low of Rs.50.60.

The total traded quantity was 29322 compared to 2 week average of 91941.

Source : Equity Bulls

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