Balasore Alloys Ltd to consider conversion of warrants

A meeting of the Committee of Balasore Alloys Ltd for Preferential Issue of Warrants of the Board of Directors will be held on March 31, 2016 for allotment of 80,00,000 Equity Shares of Rs. 5/- each at price of Rs. 17/- including premium of Rs. 12/- per Equity Shares in lieu of 80,00,000 Convertible Warrants to the Promoters on Preferential basis, pursuant to the authority given by the shareholders in the Annual General Meeting held on September 29, 2015.

Shares of BALASORE ALLOYS LTD. was last trading in BSE at Rs.16.6 as compared to the previous close of Rs. 16.35. The total number of shares traded during the day was 21509 in over 63 trades.

The stock hit an intraday high of Rs. 16.6 and intraday low of 16.15. The net turnover during the day was Rs. 352202.

Source : Equity Bulls

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