Bombay Rayon Fashions allots 5800000 Equity Shares

Bombay Rayon Fashions Ltd has announced that the 'Warrant Issue Committee' of the Board of Directors at their Meeting held on March 31, 2010 have amongst other matters considered and approved allotment of 58,00,000 Equity Shares to Reynold Shirting Ltd a promoter group entity, consequent upon exercise of option for conversion of Optionally Convertible Warrants issued earlier at an Exercise price of Rs 193/- per Equity Share issued in accordance with SEBI Guidelines for Preferential Issue.

The stock was trading at Rs.215, down by Rs.1.40 or 0.65%. The stock hit an intraday high of Rs.218.60 and low of Rs.214.15.

The total traded quantity was 19915 compared to 2 week average of 178069.

Source : Equity Bulls

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