Arvind allots 19420000 Equity Shares

Arvind Ltd has announced that the Management Committee of Board of Directors, at its meeting held on December 15, 2010, has allotted 5,70,000 Equity Shares of Rs. 10/- each pursuant to exercise of stock options by eligible employees under the Employee Stock Option Scheme 2008 of the Company.

The Board also allotted 1,88,50,000 Equity Shares of Rs. 10/- each at a Premium of Rs. 5/- per share on conversion of 1,88,50,000 Warrants issued on preferential allotment basis to Anukul Investments Private Limited.

The stock closed the day at Rs.56.30, up by Rs.2.35 or 4.36%. The stock hit an intraday high of Rs.56.85 and low of Rs.54.

The total traded quantity was 15.62 lakhs compared to 2 week average of 7.74 lakhs.

Source : Equity Bulls

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