KDDL to seek EGM approval for issue of warrants

KDDL Ltd has announced that the Board of Directors of the Company at its meeting held on July 16, 2010, has decided to issue warrants on preferential allotment basis subject to the approval of members at an Extra Ordinary General Meeting to be held August 12, 2010.

The proposal is to issue 8,07,000 Zero Coupon Convertible Warrants to outside bodies corporate and individuals not belonging to the promoter group and 9,00,000 Zero Coupon Convertible Warrants to the Promoters.

The stock closed the day at Rs.47, down by Rs.0.15 or 0.32%. The stock hit an intraday high of Rs.48.10 and low of Rs.46.60.

The total traded quantity was 5357 compared to 2 week average of 14762.

Source : Equity Bulls

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