Incap to allot 8 lakh warrants

Incap Ltd has announced that the Board of Directors of the Company at its meeting held on December 28, 2009, passed a resolution to convene an Extra Ordinary General Meeting of the Shareholders of the Company on January 27, 2010 to seek members approval for issue / allotment of 8,00,000 warrants convertible into equal number of equity shares for cash at a price of Rs. 14.00 per equity share of Rs. 10/- each or such higher price as may be calculated as per SEBI Guidelines on preferential basis to the following persons viz. Mr. C. Bhagavantha Rao - 1,60,000, Mrs. C. Lalitha Kumari - 1,60,000, Mrs. P. Himabindu - 1,60,000, Mrs. C. Neelima - 1,60,000 and Mr. P. Ramrao - 1,60,000.

The stock closed the day at Rs.14.77, up by Rs.0.44 or 3.07%. The stock hit an intraday high of Rs.15 and low of Rs.14.20.

The total traded quantity was 1645 compared to 2 week average of 16348.

Source : Equity Bulls

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