Bombay Rayon Fashions allots 42 lakhs Equity Shares on conversion of warrants

The Committee of the Board of Directors of Bombay Rayon Fashions Ltd at their Meeting held on May 9, 2011 have amongst other matters considered and approved allotment of 42,00,000 Equity Shares to Reynold Shirting Ltd a promoter group entity, consequent upon exercise of option for conversion of Optionally Convertible Warrants issued earlier, at an Exercise price of Rs. 193/- per Equity Share, issued in accordance with SEBI Guidelines for Preferential Issue.

The stock closed the day at Rs.286.20, down by Rs.1.95 or 0.68%. The stock hit an intraday high of Rs.289.90 and low of Rs.285.90.

The total traded quantity was 2.17 lakhs compared to 2 week average of 0.46 lakhs.

Source : Equity Bulls

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