Sakthi Sugars Ltd allots 5,94,05,940 shares at Rs. 30.30 to ABT Limited

The Allotment Committee of Directors of Sakthi Sugars Ltd at its meeting held on March 25, 2014 has allotted in demat form 5,94,05,940 fully paid-up Equity Shares of Rs. 10 each at a price of Rs. 30.30 per share (including premium of Rs. 20.30 per share) to ABT Limited, a company belonging to the Promoters Group, on preferential basis against the sum of Rs. 180 crores brought in by the said allottee, in terms of the CDR Scheme approved by the CDR Empowered Group and as approved by the members by special resolution passed through postal ballot on March 20, 2014.

The equity shares allotted as above will rank pari passu with the existing equity shares of the Company in all respects.

After the above allotment, ABT Limited's shareholding in the Company is 70.12% of the paid up capital of the Company. In view of this, the Company has become a subsidiary of ABT Limited.

Shares of SAKTHI SUGARS LTD. was last trading in BSE at Rs.17 as compared to the previous close of Rs. 17.05. The total number of shares traded during the day was 40797 in over 334 trades.

The stock hit an intraday high of Rs. 17.9 and intraday low of 16.75. The net turnover during the day was Rs. 704147.

Source : Equity Bulls

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