Karuturi Global approves allotment of 39469843 warrants

The Board of Directors of Karuturi Global Ltd at its meeting held on May 12, 2011, subject to share holders approvals and statutory approvals, approved the issue of 3,94,69,843 warrants to Mr. Sai Ramakrishna Karuturi, who belongs to the promoter group at Rs. 21.60 per warrant, on preferential basis.

The Board also approved the issue of 34,77,222 equity shares to Benett Coleman & Co. Company Ltd on preferential basis at Rs. 21.60 per equity share.

The stock closed the day at Rs.12.03, down by Rs.0.10 or 0.82%. The total traded quantity was 5.31 lakhs compared to 2 week average of 5.82 lakhs.

The stock hit an intraday high of Rs.12.30 and low of Rs.11.90.

Source : Equity Bulls

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