Rasi Electrodes Ltd to consider issue of 10 lakh warrants, 14.60 lakh shares at Rs. 54

A meeting of the Board of Directors of Rasi Electrodes Ltd will be held on September 27, 2014, inter alia, to issue and allot 10,00,000 Convertible Warrants on preferential basis to the Promoter and other than Promoter, with each Warrant convertible into one equity share of the Company of nominal value of Rs. 10/- each at a price of Rs. 54/- which includes a premium of Rs. 44/- per share.

The Board will also issue and allot 14,60,000 Equity shares for cash at a price of Rs. 54/- per equity share (including a premium of Rs. 44/- per Equity share) on preferential basis to the Non-Promoter Group.

Shares of RASI ELECTRODES LTD. was last trading in BSE at Rs.69.25 as compared to the previous close of Rs. 67.6. The total number of shares traded during the day was 11323 in over 218 trades.

The stock hit an intraday high of Rs. 73.55 and intraday low of 67. The net turnover during the day was Rs. 788161.

Source : Equity Bulls

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