Arihant Foundations approves conversion of 1120000 warrants

Arihant Foundations & Housing Ltd has announced that the Board of Directors of the Company at its meeting held on February 03, 2011, inter alia, has approved the conversion of outstanding 11,20,000 convertible warrants, which were originally allotted on August 05, 2009 into 11,20,000 fully paid up equity shares of face value of Rs. 10 each at an exercise price of Rs. 89/- (including premium of Rs. 79/-) and allotment of 11,20,000 fully paid up equity shares to the concerned allottees.

The stock was trading at Rs.76.30, down by Rs.8.70 or 10.24%. The stock hit an intraday high of Rs.83 and low of Rs.76.30.

The total traded quantity was 699 compared to 2 week average of 107.

Source : Equity Bulls

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