Deep Industries allots 2250000 shares

Deep Industries Ltd has announced that the Board of Directors of the Company at its meeting held on January 17, 2011, allotted 22,50,000 Equity Shares of Rs. 10/- at a premium of Rs. 48/- per share to allottees upon conversion of 22,50,000 Convertible Warrants which were allotted on August 11, 2009 at a price of Rs. 58/- per Warrant.

The allottees include Prabhavati Properties Private Limited (11,25,000 shares) and Kanvel Finance Pvt. Ltd. (11,25,000 shares).

The stock closed the day at Rs.79.10, down by Rs.3.05 or 3.71%. The stock hit an intraday high of Rs.82.50 and low of Rs.78.60.

The total traded quantity was 0.16 lakhs compared to 2 week average of 0.32 lakhs.

Source : Equity Bulls

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