Agarwal Industrial Corporation to mull allotment of convertible warrants

The Board of Directors to consider and approve allotment of 15,00,000 warrants at an exercise price of Rs.140 each, convertible into equity shares of the face value of Rs.10 each, to the person other than promoter and promoter group of the Company on preferential basis.

Oct 04, 2016 09:10 IST India Infoline News Service

Stock Market
Agarwal Industrial Corporation Ltd has informed BSE that a meeting of the Board of Directors will be held on October 4, 2016, to consider and approve allotment of 15,00,000 warrants at an exercise price of Rs.140 each, convertible into equity shares of the face value of Rs. 10 each, to the person other than promoter and promoter group of the Company on preferential basis viz (a) Garnet International Limited and (b) Aavyana Advisors LLP, in accordance with all applicable laws and regulations.

Agarwal Industrial Corporation Ltd ended at Rs. 234.5, up by Rs. 7.4 or 3.26% from its previous closing of Rs. 227.1 on the BSE.

The scrip opened at Rs. 232 and touched a high and low of Rs. 238 and Rs. 232 respectively. A total of 9984(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 129.29 crore.

The BSE group 'B' stock of face value Rs. 10 touched a 52 week high of Rs. 242 on 27-Sep-2016 and a 52 week low of Rs. 89 on 05-Oct-2015. Last one week high and low of the scrip stood at Rs. 242 and Rs. 204.95 respectively.

The promoters holding in the company stood at 53.34 % while Institutions and Non-Institutions held 0 % and 46.66 % respectively.

The stock traded above its 50 DMA.

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