Granules India Ltd approves issue of warrants to Tyche Technologies Pvt. Ltd.

The Board of Directors of Granules India Ltd at its meeting held on July 23, 2015, has approved the investment of up to Rs. 20 Crores in GIL Lifesciences Pvt. Ltd., a wholly owned Indian Subsidiary of the Company.

The Board has approved the issue of 1,86,56,000 warrants on preferential basis to M/s. Tyche Technologies Pvt. Ltd., a promoter group Company, subject to approval of the members, at a price arrived at in accordance with the SEBI (ICDR) Regulations, 2009.

The Board has fixed the date of Extra-Ordinary General Meeting of the members of the Company on August 24, 2015 to consider the issue of warrants on preferential basis to Promoter Group Company.

Shares of GRANULES INDIA LTD. was last trading in BSE at Rs.102.45 as compared to the previous close of Rs. 97.65. The total number of shares traded during the day was 1527390 in over 12146 trades.

The stock hit an intraday high of Rs. 104.8 and intraday low of 99. The net turnover during the day was Rs. 155962246.

Source : Equity Bulls

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