Arihant Foundations converts 430000 warrants

Arihant Foundations & Housing Ltd has announced that the Board of Directors of the Company at its meeting held on March 16, 2010, inter alia, has approved the conversion of 4,30,000 convertible warrants out of total 15,50,000 convertible warrants, which were allotted on August 05, 2009 on receipt of 25% of the total exercise price of Rs. 89/- (including premium of Rs. 79/-) in to 4,30,000 fully paid up equity shares upon the receipt of the balance exercise price of Rs. 66.75/- per warrant.

The allotment of 4,30,000 fully paid up equity shares upon conversion of 4,30,000 convertible warrants on preferential basis was to Kamal Lunawath - 215000 shares and Vimal Lunawath - 215000 shares.

The stock closed the day at Rs.132.55, down by Rs.2.45 or 1.81%. The stock hit an intraday high of Rs.140.30 and low of Rs.131.30.

The total traded quantity was 90 compared to 2 week average of 566.

Source : Equity Bulls

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