Orbit Exports allots 224560 shares

The Board of Directors of Orbit Exports Ltd at its meeting held on March 31, 2011, has decided to allot 2,24,560 Equity Shares of Rs. 10/- each at a Issue Price of Rs. 38/- per Share (including Premium @ Rs. 28 per Share) to the holders of 2,24,560 Optionally Fully Convertible Warrants (OFCws) of Rs. 38/- each in aggregate upon exercise of option to convert each OFCW into 1 Equity Shares of the Company.

1,12,280 Equity Shares of Rs. 10/- each was allotted to Mr. Pankaj Seth at a Issue Price of Rs. 38/- per Share (including premium @ Rs. 28/- per share) upon exercise of option to convert 1,12,280 OFCWs of Rs. 38/- each.

1,12,280 Equity Shares of Rs. 10/- each was allotted to Mrs. Anisha Seth at a Issue Price of Rs. 38/- per Share (including premium @ Rs. 28/- per share) upon exercise of option to convert 1,12,280 OFCWs of Rs. 38/- each.

The stock was trading at Rs.74.35, down by Rs.2.10 or 2.75%. The stock hit an intraday high of Rs.78.50 and low of Rs.74.35.

The total traded quantity was 0.33 lakhs compared to 2 week average of 0.62 lakhs.

Source : Equity Bulls

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