Modi Naturals allots 207200 shares

Modi Naturals Ltd has announced that the Board of Directors of the Company at its meeting held on September 30, 2010, issued 207200 equity shares of Rs 10 each at a premium of Rs 20 per share (on receipt of money and surrender of Warrant certificates) to the Foreign Institutional Investors (FII), on conversion of Optionally convertible Preferential warrants held by them into Equity Shares.

The allottees include India Max Investment Fund Ltd - 1036000 Equity Shares and Prime India Investment Fund Ltd - 1036000 Equity Shares.

The stock was trading at Rs.18.90, up by Rs.0.90 or 5%. The stock hit an intraday high of Rs.18.90 and low of Rs.18.90.

The total traded quantity was 2200 compared to 2 week average of 1300.

Source : Equity Bulls

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