Vakrangee Softwares approves allotment of 11 lakh shares

Vakrangee Softwares Ltd has announced that the Board of Directors of the Company at its meeting held on March 29, 2010, has considered and approved the resolution with regard to issuance and allotment of 11,00,000 equity shares having face value of Rs. 10/- each at a premium of Rs. 60/- per share upon conversion of equivalent number of Fully Convertible Warrants to M/s. NCD Holdings Pvt. Ltd, a Promoter group Company.

Further the Company has inform that the Company has already received Rs. 5,77,50,000 (Rupees Five Crores Seventy Seven Lakhs Fifty Thousand Only) from M/s. NJD Holdings Pvt. Ltd (the allottee) towards payment of the remaining 75% i.e. Rs. 52.5/- per warrant conversion.

The stock was trading at Rs.101.05, up by Rs.0.40 or 0.40%. The stock hit an intraday high of Rs.105.50 and low of Rs.100.

The total traded quantity was 370228 compared to 2 week average of 1012488.

Source : Equity Bulls

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