Sharon Bio-Medicine has surged 14% to Rs 56.20 after the company said its board has decided to issue convertible warrants to promoter group at price of Rs 50 per warrant on preferential basis.
At meeting held on June 10, 2014, the board had approved issue of up to 18 million warrants, convertible into same number of equity shares to promoter group.
The relevant date for the issue of warrants convertible within 18 months date of issue was June 14, 2014, Sharon Bio-Medicine said in a statement.
The minimum price at which warrants can be issued works out to Rs 45.58 per warrant, it added.
The stock opened at 50.85 and touched a record high of Rs 58.40 on National Stock Exchange. The counter has seen over two-fold jump in trading volumes with around 1.28 million shares changing hands so far.
At meeting held on June 10, 2014, the board had approved issue of up to 18 million warrants, convertible into same number of equity shares to promoter group.
The relevant date for the issue of warrants convertible within 18 months date of issue was June 14, 2014, Sharon Bio-Medicine said in a statement.
The minimum price at which warrants can be issued works out to Rs 45.58 per warrant, it added.
The stock opened at 50.85 and touched a record high of Rs 58.40 on National Stock Exchange. The counter has seen over two-fold jump in trading volumes with around 1.28 million shares changing hands so far.
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →*Subscribe to Business Standard digital and get complimentary access to The New York Times
Smart Quarterly
₹900
3 Months
₹300/Month
SAVE 25%
Smart Essential
₹2,700
1 Year
₹225/Month
SAVE 46%
*Complimentary New York Times access for the 2nd year will be given after 12 months
Super Saver
₹3,900
2 Years
₹162/Month
Subscribe
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app
SAVE 25%