Jupiter Bioscience allots 31,77,500 warrants to Ranbaxy Laboratories

Jupiter Bioscience Ltd has announced that the Board of Directors of the Company at its meeting held on May 28, 2007, has allotted 31,77,500 Equity Share Warrants to M/s. Ranbaxy Laboratories Ltd on a preferential basis representing approximately 14.91% of the expanded issued Share Capital of the Company at a price of Rs 147/- per Equity Share Warrant.

The said Equity Share Warrants convertible into Equity shares within a period of 18 months from the date of allotment OR at the time of exercise of option by M/s. Ranbaxy Laboratories Ltd which ever is earlier. The Company has already received 20% of the total consideration up front.

The stock was trading at Rs.179.75, down by Rs.5.85 or 3.15%. The stock hit an intraday high of Rs.188.45 and low of Rs.178.65. The total traded quantity was 285667 compared to 2 week average of 326585.

Source : Equity Bulls

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