KDDL zooms 11% as it converts warrants into equity
DSIJ Intelligence / 22 Dec 2016
KDDL has taken a flight straight in its early trade. The stock of the company which had previously closed at Rs 202.05; on December 22 has opened 11 per cent higher. As at 9.30 am the stock is trading at Rs 218.85, up by 8.31 per cent.
KDDL has taken a flight straight in its early trade. The stock of the company which had previously closed at Rs 202.05; on December 22 has opened 11 per cent higher. As at 9.30 am the stock is trading at Rs 218.85, up by 8.31 per cent.
KDDL has informed BSE that the committee for preferential issue of zero coupon convertible warrants 2016, at its meeting held on December 21, 2016, has allotted 2,64,150 zero coupon convertible warrants of Rs 265 each, convertible into one equity share of Rs 10 each, at a premium of Rs 255 per share as per terms of allotment and SEBI's guidelines to Swades Capital LLC, a promoter group entity.
The stock in the last six months has rallied over three per cent. In the last one year, however, the stock has fallen by 37 per cent. Fifty-two-week high/low of the scrip stands at Rs 365/162.
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