Sujana Towers to convert warrants

Sujana Towers Ltd has decided to convert 8 million convertible warrants into an equal number of equity shares of Rs 5 each at a premium of Rs 50 per share. The company said in an announcement on the BSE that the decision follows the authorisation given by its board of directors at their meeting on November 14, 2009. Its scrip ended the trade on the BSE at Rs 144.40, down 4.97 per cent over its previous close.