Kirloskar Ferrous allots 510 Equity Shares against conversion of Detachable Warrants

Kirloskar Ferrous Industries Ltd has announced that the Rights Issue and Allotment Committee of the Board of Directors of the Company at its meeting held on October 09, 2010, has extinguished 510 Detachable Warrants and has allotted 510 Equity Shares of Rs. 5 each fully paid, pursuant to the conversion of Detachable Warrants into Equity Shares in terms of the Letter of Offer dated January 02, 2007.

Consequent to allotment of Equity Shares against conversion of Detachable Warrants, the Paid up Share Capital of the Company stands increased from Rs. 686,532,855 to Rs. 686,535,405.

The stock was trading at Rs.35.20, up by Rs.0.05 or 0.14%. The stock hit an intraday high of Rs.36.25 and low of Rs.35.

The total traded quantity was 0.49 lakhs compared to 2 week average of 1.80 lakhs.

Source : Equity Bulls

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