Karuturi Global approves allotment of 9908750 shares

Karuturi Global Ltd has announced that the Board of Directors of the Company at its meeting held on January 04, 2010, inter alia, have approved the allotment of 73,75,000 equity shares of Re. 1 each to Deutsche Bank AG London, against the conversion of FCCB Bonds of US$ 2,000,000.

The Board also approved the allotment of 25,33,750 equity shares of Re.1 each to the employees of the company, who has exercised the employees stock options vested on them.

With the above two allotments, the paid up capital of the Company has gone up to Rs. 48,93,05,325/- divided into 489305325 equity shares of Re. 1 each from the existing capital of Rs. 47,93,96,575.

The stock closed the day at Rs.17.75, up by Rs.1.35 or 8.23%. The stock hit an intraday high of Rs.18.40 and low of Rs.16.90.

The total traded quantity was 8347469 compared to 2 week average of 2180702.

Source : Equity Bulls

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