Tata Steel allots 1,20,00,000 Shares on conversion of warrants to Tata Sons

Tata Sons Ltd vide their letter dated January 20, 2012 has exercised the option to convert 1,20,00,000 warrants into Ordinary Shares of Tata Steel Ltd at a price of Rs. 594/- per share.

The Committee of Directors at its meeting held on January 20, 2012, has approved the allotment to Tata Sons Ltd of 1,20,00,000 Ordinary Shares of Rs. 10/- each at a premium of Rs. 584/- per share.

The Tata Steel Ltd stock was trading at Rs.436.90, up by Rs.1.70 or 0.39%. The stock hit an intraday high of Rs.444.30 and low of Rs.430.45.

The total traded quantity was 14.57 lakhs compared to 2 week average of 14.59 lakhs.

Source : Equity Bulls

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