Kew Industries to raise funds through warrants issue

The Board of Directors of Kew Industries Ltd at its meeting held on May 12, 2011, has decided to raise funds by issuing 2,10,00,000 nos. of warrants convertible into equal number of equity and 30,00,000 nos. of equity shares of Rs. 10/- each to resident investors on preferential basis who are not considered as promoters in accordance with the SEBI Guidelines.

Accordingly it has been decided to call an Extra Ordinary General Meeting of the company on Monday, June 20, 2011 to consider and approve the above said matter.

The stock was trading at Rs.9.02, down by Rs.1.23 or 12%. The total traded quantity was 0.53 lakhs compared to 2 week average of 0.55 lakhs.

The stock hit an intraday high of Rs.10 and low of Rs.9.

Source : Equity Bulls

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