Orbit Exports Ltd decides to allot 150000 shares

The Board of Directors of Orbit Exports Ltd at its meeting held on March 20, 2014, has decided to allot 1,50,000 Equity Shares of Rs. 10/- each at an Issue Price of Rs.76.57/- per Share (including Premium @ Rs.66.57/- per Share) to the holders holding 1,50,000 Optionally Fully Convertible Warrants (OFCWs) of Rs.76.57/- each in aggregate upon exercise of option to convert each OFCW into 1 Equity Share of the Company.

75,000 Equity Shares of Rs.10/- each will be allotted to Shri. Pankaj Seth at an Issue Price of Rs.76.57/- per Share (including premium @ Rs.66.57/- per share) upon exercise of option to convert 75,000 OFCWs of Rs.76.57/- each.

75,000 Equity Shares of Rs.10/- each will be allotted to Smt. Anisha Seth at an Issue Price of Rs.76.57/- per Share (including premium @ Rs.66.57/- per share) upon exercise of option to convert 75,000 OFCWs of Rs.76.57/- each.

Shares of ORBIT EXPORTS LTD. was last trading in BSE at Rs.103.7 as compared to the previous close of Rs. 103.5. The total number of shares traded during the day was 83193 in over 497 trades.

The stock hit an intraday high of Rs. 105 and intraday low of 101.25. The net turnover during the day was Rs. 8541782.

Source : Equity Bulls

Keywords