Rainbow Papers to consider allotment of 6984700 shares on June 19, 2014

A meeting of the Board of Directors of Rainbow Papers Ltd will be held on June 19, 2014, to consider Allotment of 69,84,700 Equity Shares at the price of Rs. 81/- per share (on conversion of the balance 69,84,700 warrants outstanding to be converted) to the Promoter Group Company M/s. Drupa Suppliers Private Limited.

Shares of RAINBOW PAPERS LTD. was last trading in BSE at Rs.84.05 as compared to the previous close of Rs. 83. The total number of shares traded during the day was 114480 in over 1239 trades.

The stock hit an intraday high of Rs. 86.4 and intraday low of 82. The net turnover during the day was Rs. 9660048.

Source : Equity Bulls

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