Sankhya Infotech to issue 5270000 warrants

Sankhya Infotech Ltd has announced that the Board of Directors of the Company at its meeting held on May 22, 2010, inter alia, has considered and approved the issue of 52,70,000 share warrants on a private placement to the existing promoters (30,00,600) and strategic investor/(s) (22,69,400).

The above warrants are being issued as per the prevailing SEBI Guidelines and subject to the approval of the shareholders. The warrants may be converted into Equity Shares of Rs.10/- each and at such premium as may be permitted by SEBI Guidelines.

The stock was trading at Rs.34.30, up by Rs.0.55 or 1.63%. The stock hit an intraday high of Rs.34.90 and low of Rs.33.10.

The total traded quantity was 3991 compared to 2 week average of 90625.

Source : Equity Bulls

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