Dec 20, 2012 11:31 AM IST | Source: Moneycontrol.com

Opto Circuits soars on warrants issue approval to promoter

Shares of medical device manufacturer Opto Circuits (India) extended gains to 4.82 percent to Rs 110.80 on Thursday on the Bombay Stock Exchange after the board of directors approved issue of warrants to promoter.

Opto Circuits soars on warrants issue approval to promoter

Shares of medical device manufacturer Opto Circuits (India) extended gains to 4.82 percent to Rs 110.80 on Thursday on the Bombay Stock Exchange after the board of directors approved issue of warrants to promoter.

The company will issue 20 lakh convertible warrants to promoter Vinod Ramnani at Rs 145 per convertible warrant or as per the pricing formula as stipulated in SEBI's (ICDR) Regulations 2009, which ever is higher.

Opto will get Rs 29 crore through the issue. Promoter Vinod Ramnani held 14.05 percent stake in the company as of June 2012.

Trading volumes increased 228.5 percent to 718,273 equity shares as compared to its five day average of 218,674 shares. Market capitalisation of the company currently stands at Rs 2,684.90 crore.

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