Pipavav Defence and Offshore Engineering Company allots 1,05,00,000 equity shares on conversion of Convertible Warrants

The Securities Allotment & Transfer Committee ("SAT Committee") of the Board of Directors of Pipavav Defence and Offshore Engineering Company Ltd at its meeting held on May 13, 2013, had allotted 1,05,00,000 (One Crore Five Lacs) fully paid-up equity shares of face value Rs. 10 each ("Equity Shares") @ Rs. 78/- (Rupees Seventy Eight only) per Equity Share (including premium of Rs. 68/- per Equity Share) on conversion of convertible warrants ("Warrant") to Mr. Rakesh Jhunjhunwala (representing M/s. Rare Enterprises) and other on receipt of balance consideration and requests for conversion.

Shares of Pipavav Defence and Offshore Engineering Company Ltd was last trading in BSE at Rs.69.55, down by Rs.0.05 or 0.07%. The stock hit an intraday high of Rs.70.90 and low of Rs.69.30.

The total traded quantity was 9.40 lakhs compared to 2 week average of 4.38 lakhs.

Source : Equity Bulls

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