Indiabulls Power allots 42 crore Warrants

Indiabulls Power Ltd has announced that in terms of shareholders' authorization through a Postal Ballot on November 19, 2010, the Board of Directors of the Company at its meeting held on November 30, 2010, inter alia, has issued and allotted an aggregate of 42,00,00,000 (Forty two crore) warrants. Such warrants are convertible into an equivalent number of Equity shares of face value Rs. 10 each, in the Company, within a period of eighteen months from the date of allotment as mentioned above.

The stock closed the day at Rs.27.75, up by Rs.1.45 or 5.51%. The stock hit an intraday high of Rs.28.20 and low of Rs.25.40.

The total traded quantity was 6.16 lakhs compared to 2 week average of 3.56 lakhs.

Source : Equity Bulls

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