Amtek India Converts 6210000 Warrants

Amtek India Ltd has announced that Allotment Committee of Board of Directors of the Company at its meeting held on May 05, 2010 has allotted 62,10,000 Equity Shares upon conversion of warrants into equivalent number of equity shares of Rs. 2/- each at a premium of Rs. 39/- aggregating to Rs. 25.461 Crores to the promoters group Companies by way of preferential allotment.

Further the Convertible warrants issued by the company are exercised by the allottees within the currency period of warrants which were allotted on July 08, 2009 in terms of Chapter XIII of the SEBI (Disclosure & Investor Protection) Guidelines, 2000.

The stock was trading at Rs.67.70, down by Rs.1.55 or 2.24%. The stock hit an intraday high of Rs.69 and low of Rs.66.60.

The total traded quantity was 46386 compared to 2 week average of 128392.

Source : Equity Bulls

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