Su-Raj Diamonds allots 50 lakh shares through Preferential Issue

Su-Raj Diamonds and Jewellery Ltd has announced that the Board of Directors of the Company have made allotment of 50,00,000 Equity Shares of the Company on October 14, 2010 to the Foreign Institutional Investors (FIIs).

The allottees include Elara India Opportunities Fund Ltd. (21,00,000 shares @ Rs.70/-) and Cresta Fund Ltd. (29,00,000 shares @ Rs.70/-).

Secondly, the Board of Directors of the Company have also allotted 34,00,000 Convertible Warrants on October 14, 2010 to the Promoter Group Company Kohinoor Diamonds Pvt. Ltd. The Price at which each Warrant shall be exercised in to Equity Share of Rs. 10/- each: Rs. 70/-.

The stock closed the day at Rs.63.65, up by Rs.2.05 or 3.33%. The stock hit an intraday high of Rs.66.10 and low of Rs.62.10.

The total traded quantity was 1.19 lakhs compared to 2 week average of 0.41 lakhs.

Source : Equity Bulls

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