Avon Lifesciences approves conversion of Warrants in to Equity

As per the terms of 1,05,00,000 (One Crore Five Lacs) Warrants issued by Avon Lifesciences Ltd on August 12, 2015 on preferential basis, the Allotment Committee of the Board of Directors of the Company at the meeting held on April 11, 2016, has upon receipt of balance of 75% consideration aggregating to Rs. 19,50,000/- (Rupees Nineteen Lacs Fifty Thousand only) has approved allotment of 1,00,000 (One Lac) Equity Shares upon conversion of equivalent number of warrants at an issue price of Rs. 26 per share to the allottee.

Shares of AVON ORGANICS LTD. was last trading in BSE at Rs.29.05 as compared to the previous close of Rs. 29.8. The total number of shares traded during the day was 57456 in over 103 trades.

The stock hit an intraday high of Rs. 30.8 and intraday low of 29.05. The net turnover during the day was Rs. 1723947.

Source : Equity Bulls

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