Panasonic Home Appliances India Company Ltd allots 973000 Equity Shares on Preferential basis

The Board of Directors of Panasonic Home Appliances India Company Ltd at its meeting held on May 21, 2012, has allotted 9,73,000 equity shares of Rs. 10/- each at a premium of Rs. 115/- per equity shares on a preferential basis to Panasonic Corporation pursuant to the special resolution passed at the Extraordinary General Meeting of the Company held on May 07, 2012.

The allotment to one of the proposed allottees viz., Apollo Infrastructure Projects Finance Company Private Limited could not be made in the absence of receipt of consideration payable by it for the allotment of shares. The number of shares allotted to Panasonic Corporation is less than their entitlement keeping in view of the compliance with 5% creeping acquisition limit prescribed under SEBI (Substantial Acquisition of Shares and Takeovers) Regulations 2011 applicable to the acquirer in this regard.

Consequent to the allotment of the Equity Shares as above, the Paid-up Equity Share Capital of the Company stands increased from the present Rs. 8,57,00,000/- divided into 85,70,000 equity shares of face value Rs. 10/- each to Rs. 9,54,30,000/- dividend into 95,43,000 equity shares of face value Rs. 10/- each.

The Panasonic Home Appliances India Company Ltd stock closed the day at Rs.97, up by Rs.1.40 or 1.46%. The stock hit an intraday high of Rs.97 and low of Rs.96.95.

The total traded quantity was 110 compared to 2 week average of 383.

Source : Equity Bulls

Keywords