Kalpena Industries to consider allotment of 30 lakh shares on Sep 17, 2010

Kalpena Industries Ltd has announced that a meeting of the Board of Directors of the Company will be held on September 17, 2010, inter alia, to consider 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 conversion price of Rs 80/- each (including a premium of Rs. 70/- per warrant) to M/s. Tara Holdings Pvt Ltd (15,00,000 Equity Shares) and M/s Inbara Holdings Pvt Ltd (7,25,000 Equity Shares) collectively referred to as Promoter Group Companies and to M/s. Subh Labh Vintrade Pvt Ltd (7,75,000 Equity Shares), a Strategic Investor not forming part of Promoter Group , in compliance with Chapter V of the SEBI (ICDR) Regulations, 2009, The Companies Act, 1956, The Securities Contracts (Regulation) Act, 1956, The Depositories Act, 1996 and in compliance with Stock Exchange's "In-Principle Approval" dated November 16, 2009.

The stock was trading at Rs.133.50, down by Rs.2.30 or 1.69%. The stock hit an intraday high of Rs.142 and low of Rs.131.05.

The total traded quantity was 7390 compared to 2 week average of 41486.

Source : Equity Bulls

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