Indo Asian Fusegear allots 845000 shares

Indo Asian Fusegear Ltd has announced that the Board of Directors of the Company at its meeting held on September 22, 2010, inter alia, have approved the allotment of 8,45,000 equity shares of Rs. 10/- each against conversion of 8,45,000 Zero Coupon Convertible Warrants to the promoters of the Company.

The Board also approved shifting of registered office of the Company from 51 Kms., G. T. Karnal Road, Murthal, District Sonepat, Haryana to House No. 1048, Sector 14, Sonepat, Haryana-131001, since the existing premises of registered office of the Company has been transferred to Era Electricals Pvt. Ltd., wholly owned subsidiary of Legrand, France , S.A in terms of Shareholders' approval.

The stock closed the day at Rs.123.95, down by Rs.1.45 or 1.16%. The stock hit an intraday high of Rs.126.70 and low of Rs.120.50.

The total traded quantity was 7143 compared to 2 week average of 14125.

Source : Equity Bulls

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