Kalpena Industries allots 30 lakh shares

Kalpena Industries Ltd has announced that the Board of Directors of the Company at its meeting held on August 12, 2010, inter alia, has approved the allotment of 30,00,000 (Thirty Lacs) Equity Shares of Rs. 10/ each, on conversion of 30,00,000 warrants issued on November 27, 2009, at a conrsion price of Rs. 80/- each (including a premium of Rs. 70/-) to M/s. Tara Holdings Private Limited (15,00,000 Equity Shares) and M/s Inbara Holdings Private Limited (7,25,000 Equity Shares) collectively referred to as Promoter Group Companies and to M/s. Subh Labh Vintrade Private Limited (7,75,000 Equity Shares), a Strategic Trivestor not forming part of Promoter Group, in compliance with Chapter VII the SEBI (ICRD) Regulations, 2009, the relevant provisions of the Companies Act, 1956 and the Securities Contracts (Regulation) Act, 1956 and also the Depositories Act, 1996 and in compliance with your "In-Principle - Approval" dated November 16, 2009.

Consequent to the aforesaid allotment, the paid up capital of the Company has gone up from Rs.1,55 /- to Rs. 14,55,36,000/-.

The stock was trading at Rs.134.10, down by Rs.9.20 or 6.42%. The stock hit an intraday high of Rs.145.80 and low of Rs.131.

The total traded quantity was 32950 compared to 2 week average of 42798.

Source : Equity Bulls

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