Rathi Steel & Power allots 2315000 shares

Rathi Steel & Power Ltd has announced that the Board of Directors of the Company at its meeting held on June 28, 2010, have allotted 23,15,000 equity shares of Rs. 10/- each pursuant to conversion of 23,15,000 warrants of Rs. 22/- each earlier allotted on preferential basis to Smt. Sushila Rathi (Promoter) - 1,00,000 shares, Archit Securities Pvt. Ltd. (Promoter) - 13,09,000 shares and DBG Leasing & Housing Ltd. (Promoter) - 9,06,000 shares.

The stock closed the day at Rs.24, up by Rs.0.65 or 2.78%. The stock hit an intraday high of Rs.24.15 and low of Rs.23.05.

The total traded quantity was 26036 compared to 2 week average of 18227.

Source : Equity Bulls

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