Business Daily from THE HINDU group of publications
Saturday, Jun 06, 2009
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Business Daily from THE HINDU group of publications Saturday, Jun 06, 2009 ePaper | Mobile/PDA Version | Audio | Blogs |
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Markets
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Stocks Corporate - Preferential Allotments Our Bureau Chennai, June 5 The Chennai-based Sterling Holiday Resorts (India) Ltd has informed the stock exchange of allotment of 95.26 lakh equity shares of Rs 10 each at a premium of Rs 25 a share and 5,00,000 warrants at Rs 35 each on a preferential basis. The company has allotted 78.82 lakh shares to Indus Hospitality Fund, and 16.44 lakh shares to Blue Ocean Investment Trust. And, all the five lakh warrants have been allotted to an individual, Mr C. Satish. In February, the company raised around Rs 17 crore by allotting 45.63 lakh equity shares of Rs 10 each at a premium of Rs 25 a share, and 30 lakh warrants at a subscription price of Rs 3.50 each, convertible after 18 months into equity shares at an exercise price of Rs 35 a warrant to India Horizon Fund (16.9 lakh shares), India Discovery Fund (16.9 lakh shares), Blue Ocean Investment Trust (11.9 lakh shares) and an individual, Ms S. Dhanalakshmi (30 lakh warrants). This was used to settle some of its loans from banks and financial institutions. More Stories on : Stocks | Preferential Allotments | Hotels
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