Stock under Rs 50 in focus as company approves allotment of 50 lakh convertible warrants - Details The company has informed exchanges that its board has considered and approved the allotment of equity shares on conversion of 50,00,000 warrants in equivalent equity shares of face value of Re 1 each at an issue price of Rs 23.75. The stock opened flat at Rs 29.74 on the BSE but later surged 5.71 per cent to touch the high of Rs 31.44. "Allotment of 50,00,000 Equity Shares of face value of Re. 22.75/- per share) upon conversion for equal number of Warrants at an issue price of Rs. Consequent to today's conversation of warrants/allotment of equity shares, the issued and paid-up capital of the company stands increased to Rs 13,01,52,000, consisting of 13,01,52,000 equity shares of Re 1 each.