Adf Foods Ltd approves allotment of 2 lakh shares at Rs.65

The Board of Directors of Adf Foods Ltd at its meeting held on March 28, 2012, has considered and approved the allotment of 200,000 (Two Lakhs) equity shares of Rs. 10/- at an issue price of Rs. 65/- to the promoter group consequent to exercising their option to convert 200,000 warrants out of 20,00,000 warrants allotted to them on preferential basis on July 29, 2011, The said allotment has been done in compliance with Chapter VII of SEBI (ICDR) Regulations, 2009 The warrant holders have an option to convert remaining warrants within 18 months from the date of allotment i.e. on or before January 28, 2013.

The Adf Foods Ltd stock closed the day at Rs.49.80, down by Rs.1.95 or 3.77%. The stock hit an intraday high of Rs.50.90 and low of Rs.48.70.

The total traded quantity was 5842 compared to 2 week average of 3700.

Source : Equity Bulls

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