Roopa Industries to allot 1121820 warrants

Roopa Industries Ltd has announced that the Board of Directors of the Company at its meeting held on August 30, 2010, have decided to make a preferential allotment of 11,21,820 Convertible Share Warrants of Rs. 10/- each (Convertible into equal number of equity shares) at an issue price to be computed as per Reg. 76(1) as on the Relevant Date as per Reg 71(a) of the SEBI (Issue of Capital & Disclosure Requirements) Regulations, 2009.

The preferential allotment of share warrants is being made to Star Niochem Pvt. Ltd. an associate Company in the Promoters Group. The proposed Preferential allotment is subject to, approval of the shareholders in the forthcoming annual general meeting and shall be in compliance with Chapter VII of SEBI (ICDR) Regulations, 2009 as applicable to preferential allotment to promoters including lock-in, and in compliances with stock exchange requirements for listing.

The stock closed the day at Rs.13.66, down by Rs.0.81 or 5.60%. The stock hit an intraday high of Rs.15.18 and low of Rs.13.54.

The total traded quantity was 14767 compared to 2 week average of 15233.

Source : Equity Bulls

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