Birla Power to issue convertible warrants upto 10% of existing capital

Birla Power Solutions Ltd has announced that the Board of Directors of the Company at its meeting held on August 12, 2010, inter alia, has approved issue of convertible warrants upto 10% of the existing capital of the Company. The warrants so issued will be converted into equal number of Equity Shares at a price to be determined in accordance with ICDR guidelines within a period of 18 months from the date of allotment.

The stock closed the day at Rs.2.26, up by Rs.0.01 or 0.44%. The stock hit an intraday high of Rs.2.44 and low of Rs.2.25.

The total traded quantity was 70.59 lakhs compared to 2 week average of 51.14 lakhs.

Source : Equity Bulls

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