Bhoruka Aluminium approves preferential issue of shares, warrants

Bhoruka Aluminium Ltd has announced that the Board of Directors of the Company at its meeting held on December 14, 2010, inter alia, has approved the issue and allotment of 10,88,366 Equity shares of Rs. 10/- each at a price of Rs. 45.00 (including premium of Rs. 35/- per share) to persons other the Promoters of the Company, as per Chapter VII of SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2009.

The Board also approved issue and allotment of 430,222 Warrants convertible into even no. of equity shares of Rs. 10/- each, within a period of 18 months from the date of allotment, on preferential basis to persons in promoters group at a price of Rs. 45.00 (including premium of Rs. 35/- per share) as per Chapter VII of SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2009.

The stock closed the day at Rs.33.25, up by Rs.1.40 or 4.40%. The stock hit an intraday high of Rs.33.40 and low of Rs.31.20.

The total traded quantity was 2253 compared to 2 week average of 3404.

Source : Equity Bulls

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