Arvind allots 5500000 Equity Shares on Conversion of Warrants

Arvind Ltd has announced that the Management Committee of Board of Directors at its meeting held on February 24, 2010, has allotted 55,00,000 Equity Shares of Rs. 10/- each at a Premium of Rs. 5/- per share on conversion of 55,00,000 Warrants issued to Anukul Investments Pvt. Ltd. on preferential allotment basis.

The stock closed the day at Rs.34.90, up by Rs.0.65 or 1.90%. The stock hit an intraday high of Rs.35.10 and low of Rs.34.20.

The total traded quantity was 301607 compared to 2 week average of 356723.

Source : Equity Bulls

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