Omkar Speciality Chemicals allot warrants to promoters Sharekhan (15/01/ 2013)
Omkar Speciality Chemicals has said that the board of directors of the Company at its meeting held on January 12, 2013, has decided and approved the following, subject to the approval of shareholders through Extra Ordinary General Meeting (EGM):
Omkar Speciality Chemicals will issue 9.5 lakh warrants, on preferential basis to the Promoters & Promoter Group, convertible into 9.5 equity Shares of Rs10 each fully paid-up at a price not less than Rs150 per share, determined in accordance with the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2009 ( SEBI (ICDR) Regulations) as amended from time to time.
The stock trades at a P/E of 9x its TTM earnings.
On Monday (January 14, 2013), Omkar Speciality Chemicals closed at Rs144.15, up by 0.42%, with a volume of 0.44 lakh shares on the BSE.