Gujarat NRE Coke allots 1450000 Equity Shares upon conversion of Warrants

Gujarat NRE Coke Ltd has announced that the Committee of the Board of Directors of the Company at its meeting held on March 31, 2010, has issued and allotted 14,50,000 Equity Shares of Rs. 10/- each at a premium of Rs. 55.78 per share pursuant to Conversion Notice(s) received from Promoter / Promoter Group Company(ies) towards conversion of warrants into equity shares of the Company.

Bulli Coke Pvt. Ltd. has applied for conversion of 12,00,000 warrants into equity shares of Rs. 10/- each of the Company and Gujarat NRE Energy Resources Ltd. has applied for conversion of 2,50,000 warrants into equity shares of Rs. 10/- each of the Company.

Consequently, the Paid-up Capital of the Company has increased from 49,67,44,215 Equity Shares of Rs. 10/- each to 49,81,94,215 Equity Shares of Rs. 10/- each.

The stock was trading at Rs.89, up by Rs.1.35 or 1.54%. The stock hit an intraday high of Rs.89.70 and low of Rs.86.80.

The total traded quantity was 836458 compared to 2 week average of 1754328.

Source : Equity Bulls

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