Fiberweb India Ltd approves allotment of 1800000 warrants

The Board of Fiberweb India Ltd has decided and approved the allotment of 1800000 convertible equity warrants of face value of Rs.10/- each on preferential basis at an issue price of Rs. 181/- (including premium amount of Rs.171/- per Convertible Equity Warrants) to group of Strategic Investors, not forming part of the Promoter Group of the Company in accordance with chapter VII the provisions of Companies Act & as per SEBI (Issue of Capital & Disclosures Requirements) Regulations, 2009.

Shares of FIBERWEB (INDIA) LTD. was last trading in BSE at Rs.290 as compared to the previous close of Rs. 287.2. The total number of shares traded during the day was 33605 in over 578 trades.

The stock hit an intraday high of Rs. 294 and intraday low of 285.05. The net turnover during the day was Rs. 9733311.

Source : Equity Bulls

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