Jain Irrigation Systems allots 6100000 warrants

The Promoter Group individuals and corporate entities have subscribed to 6100000 Equity Warrants by paying the 25% deposit amount (Rs. 57.04 per Equity Warrants) in the designated account of Jain Irrigation Systems Ltd on March 23, 2011.

Under SEBI (ICDR) Regulations 2009, the issue of preferential allotment of upto 61,00,000 Equity Warrants shall be priced not less than Rs. 228.15 (each warrant being convertible into One Ordinary Equity share of Rs. 2 each in the exercise period of 18 months from the date of allotment of the Equity Warrants).

The stock closed the day at Rs.184.50, up by Rs.1.95 or 1.07%. The stock hit an intraday high of Rs.185.80 and low of Rs.178.

The total traded quantity was 1.19 lakhs compared to 2 week average of 2.25 lakhs.

Source : Equity Bulls

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