IOL Netcom approves allotment of 2038043 shares

IOL Netcom Ltd has announced that the Executive Committee at its meeting held on December 29, 2009 has approved the allotment of 20,38,043 (Twenty lakhs thirty eight thousands forty three) equity shares of Rs. 10/- each @ Rs. 36.80, Price calculated as per SEBI (ICDR) Guidelines, 2009, to HT Media Ltd. pursuant to the conversion of 7,50,000 (Seven Lakhs Fifty thousands) Zero% Unsecured Fully Convertible Debenture (FCD) held by them.

The stock was trading at Rs.31.60, up by Rs.2.45 or 8.40%. The stock hit an intraday high of Rs.32.05 and low of Rs.30.05.

The total traded quantity was 127570 compared to 2 week average of 37972.

Source : Equity Bulls

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