Arrow Coated Products allots 5350198 shares, 1070040 warrants

The Board of Directors of Arrow Coated Products Ltd at its meeting held on March 16, 2012, has allotted 5350198 fully paid-up Equity Shares of face value of Rs. 10/- each together with 1070040 detachable warrants, convertible into equity shares of the Company within a period of 12 months from the date of issue at such price as may be determined in accordance with the provisions of SEBI (ICDR) Regulations, 2009, on the Rights basis, the subscription for which was opened on February 21, 2012 and closed on March 06, 2012.

Consequent to the allotment of Equity Shares as aforesaid, the paid-up Equity Share capital of the Company stands increased from the present Rs. 5,35,01,980/- divided into 53,50,198 Equity Shares of Rs. 10/- each to Rs. 10,70,03,960/- divided into 1,07,00,396 Equity Shares of Rs. 10 each.

The Arrow Coated Products Ltd stock was trading at Rs.10.07, down by Rs.0.52 or 4.91%. The stock hit an intraday high of Rs.11 and low of Rs.10.07.

The total traded quantity was 490 compared to 2 week average of 4600.

Source : Equity Bulls

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