Elantas Beck India Promoters to sell shares

SEBI vide its letter dated May 03, 2013 has allowed the Promoters of Elantas Beck India Ltd viz. ELANTAS GmbH, to sell equity shares of the Company to unrelated non-promoter entities on the floor of stock exchange through the regular market segment in addition to other options as set out at Clause 40A(ii) (a) to (f) of Listing Agreement, for meeting the MPS requirement in terms of Rule 19A of Securities Contracts (Regulation) Rules, 1957 (SCRR), on or before June 03, 2013.

In view of the permission so granted by SEBI, the promoter ELANTAS GmbH intends to bring down its shareholding from 78.65% to 75% to comply with the MPS requirement.

Shares of Elantas Beck India Ltd was last trading in BSE at Rs.492, down by Rs.0.65 or 0.13%. The stock hit an intraday high of Rs.497.90 and low of Rs.492.

The total traded quantity was 414 compared to 2 week average of 13428.

Source : Equity Bulls

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