Surya Pharma allots 9500000 Equity Shares on conversion of Share Warrants

Pursuant to the option exercised by investor regarding conversion of Share Warrants, the Board of Directors of Surya Pharmaceutical Ltd in their meeting held on March 31, 2011 have allotted 95,00,000 fully paid Equity Shares on preferential basis to M/s. Futuristics Garments Pvt. Ltd. upon conversion of 9,50,000 Zero Coupon Convertible Share warrants.

The total Share Capital after conversion stands at Rs. 19,27,52,380/- divided into 19,27,52,380 fully paid Equity Shares of Re. 1.00 each.

The stock closed the day at Rs.24.50, up by Rs.2.90 or 13.43%. The stock hit an intraday high of Rs.25.90 and low of Rs.21.30.

The total traded quantity was 2.68 lakhs compared to 2 week average of 0.73 lakhs.

Source : Equity Bulls

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