Indo Asian Fusegear approves allotment of 890000 warrants

Indo Asian Fusegear Ltd has announced that the Board of Directors of the Company at its meeting held on May 20, 2010, has approved the allotment of 8,90,000 Zero Coupon Convertible Warrants to the persons falling under 'Promoter Category' at a price of Rs. 70/- (Inclusive of premium) in concordance with SEBI (ICDR) Regulations, 2009 on preferential basis by private placement.

The stock was trading at Rs.67, down by Rs.0.05 or 0.07%. The stock hit an intraday high of Rs.68 and low of Rs.66.

The total traded quantity was 4355 compared to 2 week average of 13947.

Source : Equity Bulls

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