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.