Marg allots 2870119 Equity shares upon conversion of warrants

Marg Ltd has announced that, the Capital Issues and Allotment Committee, at the meeting held on February 19, 2011, has allotted 28,70,119 (TWENTY EIGHT LAKHS SEVENTY THOUSAND ONE HUNDRED AND NINETEEN ONLY) Equity shares of Rs. 10 each at a premium of Rs. 51 per share aggregating Rs. 61 per share upon conversion of warrants to promoters, promoters group, employees and others.

With this, the Company completes the allotment of Equity shares upon conversion of all the warrants issued on preferential basis pursuant to EGM resolution June 18, 2009.

The stock was trading at Rs.117, down by Rs.2.20 or 1.85%. The stock hit an intraday high of Rs.119 and low of Rs.117.

The total traded quantity was 4288 compared to 2 week average of 27433.

Source : Equity Bulls

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