Jain Irrigation allots 437700 shares

Jain Irrigation Systems Ltd has announced that Sub-Committee of the Board of the Company in its meeting held on January 23, 2010 allotted 4,37,700 Equity Shares of Rs. 10 each for cash at a premium of Rs. 297.76 each aggregating to Rs. 13,47,06,552/- of the Company to the eligible employee (including the eligible working Directors and Non Executive Directors) in lieu of conversion of 4,37,700 Options into underlying Equity Shares as per Employees Stock Options and Shares Plan, 2005 (ESOP 2005).

The Stock was trading at Rs.820.50, down by Rs.10.40 or 1.25%. The stock hit an intraday high of Rs.835 and low of Rs.811.

The total traded quantity was 5283 compared to 2 week average of 26270.

Source : Equity Bulls

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