Kirloskar Ferrous Industries allots 8553 Equity Shares on conversion of Detachable Warrants

Kirloskar Ferrous Industries Ltd has announced that the Rights Issue and Allotment Committee of the Board of Directors of the Company at its meeting held on April 10, 2010 has extinguished 8,553 Detachable Warrants and has allotted 8,553 Equity Shares of Rs. 5 each fully paid, pursuant to the conversion of Detachable Warrants into Equity Shares in terms of the Letter of Offer dated January 02, 2007.

Consequent to the allotment of Equity Shares against the conversion of Detachable Warrants, the Paid-up Share Capital of the Company stands increased from Rs. 686,486,515 to Rs. 686,529,280.

The stock was trading at Rs.41.80, up by Rs.0.45 or 1.09%. The stock hit an intraday high of Rs.42.50 and low of Rs.40.50.

The total traded quantity was 201843 compared to 2 week average of 617021.

Source : Equity Bulls

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