Sasken Communication fixes price as Rs 176 for the warrants to be issued on a preferential basis

Sasken Communication Technologies Ltd has announced that the Committee of Directors for Preferential Issue 2010 formed by the Board for the purpose of administering the preferential Issue of warrants to Mr. Rajiv C. Mody has fixed Rs. 176 as the price for each warrant.

In arriving at the above price, the Committee considered the minimum price of Rs. 175.54 calculated as per Chapter VII of the SEBI (ICDR) Regulations as on the relevant date viz. February 13, 2010.

The stock closed the day at Rs.167.15, down by Rs.4 or 2.34%. The stock hit an intraday high of Rs.171.70 and low of Rs.166.

The total traded quantity was 33878 compared to 2 week average of 56148.

Source : Equity Bulls

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