Genus Power Infrastructures allots 1 lakh Warrants Convertible into Equity Shares

Genus Power Infrastructures Ltd has announced that the Board of Directors of the Company at its meeting held on January 16, 2010, has allotted 11,00,000 convertible warrants, each convertible warrant convertible into and / or providing the holder the option to subscribe to one fully paid-up equity share of Rs. 10/- each (aggregating to 11,00,000 equity shares) at a price of Rs. 190/- per equity share (including a premium of Rs. 180/- per share) to M/s. Vivekshil Dealers Pvt. Ltd., a Indian Private Limited Company (one of the promoters of the Company).

Further the Company has informed that, the Company has already received an amount equivalent to the 25% of the consideration upon conversion in terms of the SEBI (Issue of Capital & Disclosure Requirements) Regulations, 2009.

The Stock closed the day at Rs.192, up by Rs.1.15 or 0.60%. The stock hit an intraday high of Rs.200 and low of Rs.190.50.

The total traded quantity was 157951 compared to 2 week average of 205072.

Source : Equity Bulls

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