KDDL rallies 16% on allotment of convertible warrants to Swades Capital

NEW DELHI: Shares of KDDL rallied as much as 16.3 per cent on BSE on Thursday, a day after the company announced allotment of 264,150 zero coupon convertible warrants at a premium of Rs 255 per share to Swades Capital, a promoter group entity.

At 09:30 am, KDDL pared some of the gains but was still trading 8.8 per cent higher at Rs 220. The stock hit a low of Rs 217 and a high of Rs 235 in the first 30 minutes of trade.

Promoter holding in the company stood at 48.2 per cent while institutional and non-institutional investors held 15.29 per cent and 36.50 per cent, respectively.