Investors surrender warrants issued by Alps Industries

Alps Industries Ltd has announced that in terms of the note placed before the Board and according to the declarations received from the investors of the outstanding 500,000 Zero Coupon Convertible Warrants, the investors have surrendered their option to get equity. The entire amount of Rs 75.00 Lacs deposited by the investors on issue of warrants to them has been forfeited in terms of the relevant SEBI Guidelines. The the Board of Directors of the Company at its meeting held on April 30, 2007, inter alia, has taken on record this development and surrendered Zero Coupon Convertible Warrants need no further action in this respect.

The stock closed the day at Rs.54.80, up by Rs.0.40 or 0.74%. The total traded quantity was 50136 compared to 2 week average of 108936. The stock hit an intraday high of Rs.56.15 and low of Rs.54.45.

Source : Equity Bulls

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