Sree Rayalaseema Hi-Strength Hypo to allot 735830 warrants at Rs.55.74

The Board of Directors of Sree Rayalaseema Hi-Strength Hypo Ltd at its meeting held on November 28, 2012, has decided to allot 7,35,830 convertible share warrants of Rs. 10/- each at a rate of Rs. 55.74 (including premium of Rs 45.74) calculated as per Chapter VII of SEBI (ICDR). Regulations,2009 to M/S Gowri Gopal Hospitals Pvt Ltd, one of the Promoter of the Company under Preferential issue subject to members approval in the ensuing Annual General Meeting to be held on December 28, 2012. These share warrants are to be converted into equity shares within 18 months from the date of allotment of warrants.

The Sree Rayalaseema Hi-Strength Hypo Ltd stock was trading at Rs.56.10, down by Rs.0.60 or 1.06%. The stock hit an intraday high of Rs.57.50 and low of Rs.55.50.

The total traded quantity was 1620 compared to 2 week average of 17371.

Source : Equity Bulls

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