Infibeam share price hit a new life time high of Rs 1,309.00, up 11 per cent on the National Stock Exchange in intra-day trade, after the board approved issue of warrants to Bennett Coleman and Company on the preferential issue-basis at a conversion price of Rs 1,375 per equity share.
The previous life time high of the share is Rs 1239.95 made on 28th November 2016. The 52 week low as well as the life time low of the share is Rs 432.00, made on 8th April 2016.
According to a filing by the company on the Bombay Stock Exchange the board of directors of Infibeam Incorporation at their meeting held on Tuesday, 24thJanuary, 2017 passed the resolution to issue one warrant fully convertible into equity shares for an aggregate amount not exceed Rs 60 crores to body corporate other than promoters and promoter group that is Bennett Coleman and Company on preferential issue basis at a conversion price of Rs 1,375 per equity share or at price determined in accordance with the SEBI regulation.
The relevant date for the purpose of calculating the price of warrant to be issued in terms hereof shall be 22nd January, 2017, being 30 days prior to the date of the Extraordinary General Meeting scheduled to be held on 22nd February, 2017, the company further added.
At 1.25 PM Infibeam share price was seen trading at Rs 1,282.00, up by 11.54 per cent or 132.65 points. A total of 5,61,302 shares of the company have been traded on NSE for a total value of Rs 7,163.79 lacs. The 20 days average daily trading volume of Infibeam shares is 3,38,212.
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