Suave Hotels to consider allotment of 7.5 million warrants on July 16, 2010

Suave Hotels Ltd has announced that a meeting of the Board of Directors of the Company will be held on July 16, 2010, inter alia, to consider the allotment of 75,00,000 warrants, convertible into 75,00,000 equity shares of Rs. 10 each at a price of Rs. 44/- each to promoter & others on preferential basis.

The stock closed the day at Rs.31.20, up by Rs.0.20 or 0.65%. The stock hit an intraday high of Rs.31.50 and low of Rs.30.30.

The total traded quantity was 40112 compared to 2 week average of 71798.

Source : Equity Bulls

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