Greycells Education allots 13 lakh Share Warrants

Greycells Education Ltd has announced that pursuant to the approval of shareholders through postal ballot on November 29, 2010, for issue and allotment of share warrants convertible into equity shares on preferential basis, the Committee at its meeting held on December 31, 2010, has considered and approved allotment of 13,00,000 (Thirteen Lacs) shares warrants of Rs. 10/- each at a price of Rs. 55/- per share warrant on preferential basis to the promoter and non-promoter entities.

The allottees include Krisma Investments Private Limited - Promoter (200000 warrants), Desai Bela Naishadh - Promoter (100000 warrants) and Ashok Advani - Non-Promoter (10,00,000 warrants).

The stock was trading at Rs.49.75, up by Rs.2.25 or 4.74%. The stock hit an intraday high of Rs.49.80 and low of Rs.45.40.

The total traded quantity was 48415 compared to 2 week average of 9663.

Source : Equity Bulls

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