Flawless Diamond allots 81,00,000 shares on conversion of warrants

Flawless Diamond India Ltd has announced that the Board of Directors of the Company at its meeting held on April 24, 2007 has decided to allot 81,00,000 Equity Shares of Rs 10/- each at a Premium of Rs 10/- each per share to the Share Warrant Holders who have exercised the option of conversion of Share Warrants into equal number of Equity Shares.

Promoter - 20,00,000 No of Shares

Non Promoter - 61,00,000 No of Shares

These shares will be ranking pari pasu with existing shares.

The stock closed the day at Rs.88.35, up by Rs.1.50 or 1.73%. The stock hit an intraday high of Rs.90 and low of Rs.85.20. The total traded quantity was 20065 compared to 2 week average of 26324.

Source : Equity Bulls

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