Apollo Hospitals to issue 1544621 warrants

Apollo Hospitals Enterprise Ltd has announced that the Board of Directors of the Company at its meeting held on April 30, 2010, approved, subject to shareholders approvals and necessary regulatory approvals, to issue up to 1,544,621 warrants (being 2.5% of existing paid up equity capital of the Company) convertible into equity shares to Dr. Prathap C. Reddy, promoter of the Company, with each warrant convertible into one equity share of the Company of nominal value of Rs. 10/- each at a price of Rs. 771.76 which includes a premium of Rs. 761.76 per share, which price is not less than the price calculated in accordance with the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2009 for preferential allotment of equity shares/warrants.

An Extraordinary General Meeting of the Company is to be convened on May 29, 2010 for obtaining members approval for the above said issue.

The stock closed the day at Rs.780, up by Rs.9.75 or 1.27%. The stock hit an intraday high of Rs.802 and low of Rs.774.05.

The total traded quantity was 52956 compared to 2 week average of 23420.

Source : Equity Bulls

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