Tulip Telecom to issue 2.55 crore warrants

The Board of Directors of Tulip Telecom Ltd at its meeting held on November 07, 2012, have conisdered and approved issue of upto 2,55,00,000 warrants convertible into equity shares to the promoter(s)/promoter group or other group companies subject to the approval of the shareholders and in compliance with Chapter Vll of Securities Exchanges Board of India (Issuance of Capital and Disclosure Requirements) Regulations, 2009 and such other applicable rules and laws.

The Board also approved issuance of postal ballot notice to the shareholders seeking their approval for issuance of warrants convertible into equity.

The Tulip Telecom Ltd stock closed the day at Rs.39.05, up by Rs.0.05 or 0.13%. The stock hit an intraday high of Rs.39.45 and low of Rs.38.85.

The total traded quantity was 0.58 lakhs compared to 2 week average of 1.90 lakhs.

Source : Equity Bulls

Keywords