Globus Spirits zooms nearly 16% on preferential issue to promoter at premium

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Shares of breweries and distilleries manufacturer Globus Spirits rallied nearly 16 per cent in early trade on Bombay Stock Exchange (BSE) after its board approved the allotment of warrants worth of Rs 11 crore to promoter group at a price of Rs 140 per warrant.

"The board of directors has approved allotment of 763,359 warrants at a price of Rs 140/- per warrant to promoter group entity M/S. Chandbagh Investments Limited," Globus Spirits said in its filling to BSE.

Hailing the board's decision, shares of the company gained as much as 15.95 per cent to trade at Rs 121.40 a piece on the BSE.

In a similar fashion, shares of the company were quoting at Rs 117.80 a piece, up 13.11 per cent on the National Stock Exchange (NSE).

Meanwhile, the broader benchmark Sensex was quoting at 19,010.89, up 2.79 points or 0.01 per cent at 9:55 hours.

Read more about: globus spirits
Story first published: Wednesday, March 20, 2013, 14:30 [IST]
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