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.
Opto Circuits stock price
On November 26, 2015, Opto Circuits India closed at Rs 13.74, up Rs 0.19, or 1.40 percent. The 52-week high of the share was Rs 27.05 and the 52-week low was Rs 11.08.
The latest book value of the company is Rs 53.43 per share. At current value, the price-to-book value of the company was 0.26.
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