Celebrity Fashions up 7% on allotment of equity shares, warrants

Share price of Celebrity Fashions gained 7.3 percent intraday Monday on the back of allotment of equity shares and convertible warrants.The company at its meeting held on March 4, has issued and allotted 30,67,484 equity shares and 56,96,756 convertible warrants at a price of Rs 11.41 per security on preferential basis to promoters (Rama Rajagopal and Venkatesh Rajagopal) and director.The company has received an upfront payment of 25 percent of total consideration of convertible warrants as per terms of preferential issue.As on December 2016, the promoters, Rama Rajagopal and Venkatesh Rajagopal, were holding 12.93 percent and 24.72 percent stake in the company.At 09:30 hrs Celebrity Fashions was quoting at Rs 11, up Rs 0.61, or 5.87 percent on the BSE.Posted by Rakesh Patil