Amtek Auto allots 2.4 crore warrants

Amtek Auto Ltd has announced that the Allotment Committee of Board of Directors of the Company in their meeting held on July 20, 2010 has allotted 2,40,00,000 warrants convertible into equivalent number of equity shares of Rs. 2/- each at a premium of Rs. 178/- aggregating to Rs. 432/- Crores to the promoters group Companies by way of preferential allotment. These warrants shall be convertible into equal number of Equity Shares within a period not exceeding eighteen months from the date of allotment of the warrants, in two or more trenches.

The stock closed the day at Rs.194.10, up by Rs.2.90 or 1.52%. The stock hit an intraday high of Rs.196.45 and low of Rs.184.10.

The total traded quantity was 182934 compared to 2 week average of 362027.

Source : Equity Bulls

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