Winsome Yarns withdraws preferential issue of warrants

Winsome Yarns Ltd has announced that the Board of Directors of the Company at its meeting held on January 09, 2010, inter alia, have approved the withdrawal of earlier proposed issue of 7200000 Convertible Warrants on preferential allotment basis.

The Board approved issue of fresh convertible warrants on preferential allotment basis to promoters and strategic investors.

The Board also approved increase in the authorised share capital of the Company from Rs. 43.00 crores to Rs. 60.00 crores.

The stock was trading at Rs.19, up by Rs.0.40 or 2.15%. The stock hit an intraday high of Rs.19.30 and low of Rs.18.10.

The total traded quantity was 19109 compared to 2 week average of 79032.

Source : Equity Bulls

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