Adani Power Ltd approves allotment of Equity Shares on conversion of warrants

The convertible warrant holders of Adani Power Ltd, to whom the warrants were allotted in the month of May, 2016 on preferential basis, have exercised their rights for conversion and applied for conversion of part of the warrants into equity shares. Consequently, Management Committee of the Board of Directors of the Company at its meeting held on February 22, 2017 has made allotment of total 2,74,27,353 Equity Shares of the face value of Rs. 10/- each (with a premium of Rs. 22.54 per equity share) to the said convertible warrant holders.

Shares of ADANI POWER LTD. was last trading in BSE at Rs.36.75 as compared to the previous close of Rs. 35.8. The total number of shares traded during the day was 1055630 in over 1883 trades.

The stock hit an intraday high of Rs. 37.65 and intraday low of 35.8. The net turnover during the day was Rs. 38683581.

Source : Equity Bulls

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