Aditya Birla Nuvo Ltd allots 1,65,00,000 Warrants

The Investor Relations and Finance Committee of the Directors of Aditya Birla Nuvo Ltd, at its meeting held on May 10, 2012, has allotted 1,65,00,000 Warrants to the Promoter Group companies. These Warrants entitle the holder thereof to apply for and obtain allotment of one equity share of the face value of Rs. 10/- each at a premium of Rs. 900.86 per share determined as per Preferential Issues guidelines provided in Chapter VII of SEBI (Issue of Capital and Disclosure Requirements ) Regulations, 2009 . The Company have received upfront payment of 25% of the issue price from the allottees in compliance of the said regulations.

Issue of these Warrants were earlier approved by the Board of Directors in their meeting held on March 26, 2012 and by the Members in their Extra-Ordinary General Meeting held on April 25, 2012.

The Aditya Birla Nuvo Ltd stock closed the day at Rs.822.50, down by Rs.28.60 or 3.36%. The stock hit an intraday high of Rs.865.35 and low of Rs.816.70.

The total traded quantity was 0.11 lakhs compared to 2 week average of 0.12 lakhs.

Source : Equity Bulls

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