Arshiya International's Promoters make Part Payment on convertible Warrants to reassure investors

The Promoters of Arshiya International Ltd have been allotted on Nov 01, 2012 1,38,00,000 no. of convertible warrants aggregating Rs. 197.20 crores @ Rs. 145 per warrant and so far Mr. Ananya Mittal the Promoter/the Promoter Group has paid Rs.82.47 crores towards the same.

The Promoters/Promoters Group have on January 10, 2012 made further payment of Rs. 42.20 crores on 42,20,000 convertible warrants as part payment. Hence so far, they have paid Rs. 124.67 crores on these Warrants. After payment of the remaining amount of Rs. 3,69,25,000 these 42,20,000 warrants would be convertible into 42,20,000 fully paid equity shares of the company subject to SEBI ICDR Regulations 2009.

This further investment from the Promoters/ Promoters Group reflects the true the strength of the company and its operations and also their continued interest and faith in the growth of the company.

The Arshiya International Ltd stock closed the day at Rs.77.95, down by Rs.19.45 or 19.97%. The stock hit an intraday high of Rs.78.25 and low of Rs.77.95.

The total traded quantity was 1.71 lakhs compared to 2 week average of 2.13 lakhs.

Source : Equity Bulls

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