Bombay Rayon Fashions approves allotment of 1 crore warrants

Bombay Rayon Fashions Ltd has announced that the Committee of the Board of Directors at their Meeting held on October 04, 2010 has considered and approved the allotment of 1,00,00,000 (One crore) Convertible Warrants ("Warrants") to B. R. Machine Tools Pvt. Ltd, an entity belonging to Promoter Group, each Warrant being convertible, at the option of the Warrant holder, within a period of 18 months from the date of issue, into one Equity Share of Rs.10/- each for cash at an exercise price of Rs. 263/- determined in accordance with SEBI Guidelines for Preferential Issues.

The stock closed the day at Rs.255.65, up by Rs.0.95 or 0.37%. The stock hit an intraday high of Rs.259.70 and low of Rs.254.60.

The total traded quantity was 0.42 lakhs compared to 2 week average of 0.83 lakhs.

Source : Equity Bulls

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