Investment & Precision Castings allots 390000 warrants

The Board of Directors of Investment & Precision Castings Ltd at its meeting held on January 11, 2012, allotted 3,90,000 equity warrants convertible into equity shares of Rs. 10/- each at a price of Rs. 73/- (i.e. a premium of Rs. 63/- per share) to Promoter, Shri. P I Tamboli on preferential basis.

The above allottment has been made pursuant to the authority granted by the shareholders at The Extra Ordinary General Meeting held on November 21, 2011 and the 'in- principle' approval received from the Stock Exchange vide its letter dated December 28, 2011.

The Investment & Precision Castings Ltd stock was trading at Rs.57.50, up by Rs.0.55 or 0.97%. The stock hit an intraday high of Rs.60.70 and low of Rs.55.50.

The total traded quantity was 4196 compared to 2 week average of 1015.

Source : Equity Bulls

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