Aditya Birla Nuvo to issue 1.05 cr shares to promoter group cos

NEW DELHI: Business conglomerate Aditya Birla Nuvo today said it will issue over one crore equity shares at a premium of Rs 531.19 each to its promoter group companies on conversion of warrants issued last year.

"The investor relations and finance committee of the board of directors has approved allotment of 1.05 crore equity shares of Rs 10 each fully paid up at a premium of Rs 531.19 each to the promoter group companies on conversion of equivalent number of warrants issued to them on June 22, 2009," the company said in a filing to the Bombay Stock Exchange.

Last year, Aditya Birla Nuvo had issued 1.85 crore warrants, with a face value of Rs 10 each, at a price of Rs 541 per share to the promoters on a preferential basis in June 2009 to raise Rs 1,000 crore.

The company's scrips closed at Rs 826.05 per share on the Bombay Stock Exchange today, up 1.09 per cent from the previous close.