Roopa Industries allots 1121820 warrants

Roopa Industries Ltd has announced that the Board of Directors of the Company at its meeting held on October 12, 2010, have allotted 11,21,820 Warrants of Rs. 10/- each for cash at a premium of Rs. 1.48 per Warrant to Star Niochem Pvt. Ltd, which are convertible into equivalent number of Equity Shares. The allotment is as per the terms and conditions contained in the Special Resolution U/s 81 (1A) of the Companies Act passed at the Annual General Meeting held on September 29, 2010.

The applicant has already paid Rs. 32,19,624/- (25% of the issue price) to the Company as application money for the above referred warrants.

The stock was trading at Rs.9, down by Rs.0.05 or 0.55%. The stock hit an intraday high of Rs.9.50 and low of Rs.8.90.

The total traded quantity was 4200 compared to 2 week average of 3258.

Source : Equity Bulls

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