IFL Promoters allots 19.50 lakh warrants

IFL Promoters Ltd has announced that the Board of Directors of the Company at its meeting held on March 13, 2010, has approved allotment of 19,50,000 preferential warrants to its strategic investors at price of Rs. 10/- each.

Pursuant to the shareholder approval received at the annual general meeting of the Company held on September 30, 2009, in respect to the issue of upto 19,50,000 convertible warrants to strategic investors, the board hereby allots the 19,50,000 convertible warrants of Rs. 10/- each to strategic investors.

The allottees include North India Securities Pvt. Ltd. - 5,00,000 warants, Power Estates Pvt. Ltd. - 6,00,000 warants, Srishti Forms Pvt. Ltd. - 4,50,000 warants and Consortium Financial Resources Ltd. - 4,00,000 warants.

The stock was trading at Rs.9.77, down by Rs.0.08 or 0.81%. The stock hit an intraday high of Rs.9.90 and low of Rs.8.90.

The total traded quantity was 31655 compared to 2 week average of 16117.

Source : Equity Bulls

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