Gati allots 850000 shares on Conversion of Warrants

The Board of Directors of Gati Ltd has allotted 8,50,000 Equity Shares of Rs. 2/- each at a premium of Rs. 56/- per share to Mr. Mahendra Kumar Agarwal, one of the promoters of the Company on conversion of 8,50,000 convertible warrants allotted to him on February 13, 2010 pursuant to the resolution approved by the Shareholders at their Extra Ordinary General Meeting held on January 11, 2010.

Consequent to the aforementioned allotment, the share capital of the company has increased from 8,51,54,900 shares aggregating Rs. 17,03,09,800/- to 8,60,04,900 shares aggregating Rs. 17,20,09,800/-. The Share Premium Account of the Company has been credited with an amount of Rs. 4,76,00,000/-.

The stock closed the day at Rs.57.25, up by Rs.1.65 or 2.97%. The stock hit an intraday high of Rs.58.90 and low of Rs.54.75.

The total traded quantity was 0.46 lakhs compared to 2 week average of 0.38 lakhs.

Source : Equity Bulls

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