Ashapura Intimates Fashion Ltd approves issue of warrants to Bennett Coleman & Co. Ltd

The Board of Directors of Ashapura Intimates Fashion Ltd, has approved the issuance of warrants upto Rs. 16,25,00,000 (Rupees Sixteen Crore Twenty Five Lakhs Only) to Bennett Coleman & Co. Ltd and warrants upto Rs. 16,25,00,000 (Rupees Sixteen Crore Twenty Five Lakhs Only) to other investors on preferential allotment basis, entitling the holder of each Warrant to apply for and obtain allotment of equity shares against such Warrants, under the SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2009 and other applicable relevant laws at a price not less than as arrived in accordance with the provisions of Chapter VII of SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2009.

The Board has also accorded its consent for seeking approval of shareholders for the aforesaid purpose at the upcoming AGM of the Company.

Shares of ASHAPURA INTIMATES FASHION LTD. was last trading in BSE at Rs.246.9 as compared to the previous close of Rs. 246.5. The total number of shares traded during the day was 50170 in over 189 trades.

The stock hit an intraday high of Rs. 250 and intraday low of 245. The net turnover during the day was Rs. 12433391.

Source : Equity Bulls

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