Fortis Healthcare allots 87711986 Equity Shares against conversion of Detachable Warrants

Fortis Healthcare Ltd has announced that the Issue Committee of the Company had, at its meeting held on April, 29, 2010, approved the conversion of such detachable warrants, which were issued in terms of Letter of Offer dated September 22, 2009 of the Right Issue of the Company, into equity shares and further intimating the Stock Exchange, the terms of conversion of such warrants into equity shares.

The Issue Committee of the Company on June 24, 2010, has approved the allotment of 8,77,11,986 Equity Shares of Rs. 10 each, to the applicants, at an Exercise Price of Rs. 153 per Warrant, aggregating Rs. 13,420 million.

Consequent to the said allotment, the paid-up equity share capital of the Company has gone upto 40,50,43,495 equity shares of Rs. 10/- each, aggregating Rs. 405,04,34,950.

The stock was trading at Rs.155.20, down by Rs.1.20 or 0.77%. The stock hit an intraday high of Rs.156.70 and low of Rs.152.40.

The total traded quantity was 377461 compared to 2 week average of 1363832.

Source : Equity Bulls

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