Ind-Swift approves allotment of 3044000 shares

The Board of Directors of Ind-Swift Ltd at its meeting held on March 26, 2011, has approved the allotment of 20,44,000 equity shares to Promoters Group upon conversion of 20,44,000 Zero Coupon Optionally Convertible Warrants (2009 Series) at a price of Rs. 25/- per share.

The Board approved allotment of 10,00,000 equity shares upon conversion of 10,00,000 Zero Coupon Optionally Convertible Warrants (2010 Series) at a price of Rs. 40/- per share to other bodies corporate.

The Board also approved allotment of 14,20,000 number of 1% Non Cumulative redeemable Preference shares of Rs. 100/- each to various atlottes.

The stock was trading at Rs.30.35, up by Rs.0.45 or 1.51%. The stock hit an intraday high of Rs.30.95 and low of Rs.30.

The total traded quantity was 6647 compared to 2 week average of 14375.

Source : Equity Bulls

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