Arvind allots 3002500 Equity Shares

Arvind Ltd has announced that the Management Committee of Board of Directors, at its meeting held on September 27, 2010, has allotted 18,02,500 Equity Shares of Rs. 10/- each pursuant to exercise of stock options by eligible employees and director under the Employee Stock Option Scheme 2008 of the Company.

The Board also allotted 12,00,000 Equity Shares of Rs. 10/- each at a Premium of Rs. 5/- per share on conversion of 12,00,000 Warrants issued on preferential allotment basis to Anukul Investments Pvt. Ltd.

The stock closed the day at Rs.42.35, down by Rs.0.70 or 1.63%. The stock hit an intraday high of Rs.44.90 and low of Rs.41.90.

The total traded quantity was 11.47 lakhs compared to 2 week average of 9.62 lakhs.

Source : Equity Bulls

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