Infibeam gains on board nod to issue of warrants to Bennett Coleman

The stock hit a new high of Rs 1,267, up 10% on the BSE in intra-day trade

Infibeam Incorporation hit a new high of Rs 1,267, up 10% on the BSE in intra-day trade, after the board approved issue of warrants to Bennett Coleman and Company on preferential issue-basis at a conversion price of Rs 1,375 per equity share.

“The board of directors of Infibeam Incorporation at their meeting held on Tuesday, January 24, 2017 passed the resolution to issue one warrant fully convertible into equity shares for an aggregate amount not exceed Rs 60 crore to body corporate other than promoters and promoter group i.e. Bennett Coleman and Company on preferential issue basis at a