Ashapura Minechem Ltd allots 40 lakh shares on conversion of warrants

In accordance with the Shareholders' approval sought through the postal ballot process, result of which was declared on December 05, 2012, the Committee of Directors of Ashapura Minechem Ltd has now at its meeting held on March 25, 2014, approved the conversion of Warrants into Equity Shares and have subsequently allotted 40,00,000 Equity Shares of the face value of Rs. 2/- each to Warrant holder viz. Ashapura Industrial Finance Limited, a Promoter Group Entity.

Consequent to the above allotment, the paid up Share Capital of the Company stands at 8,69,86,098 Equity Shares of Rs. 2/- each aggregating to Rs. 17,39,72,196/-

The new shares shall rank pari-passu with the existing shares in all respects.

Shares of ASHAPURA MINECHEM LTD. was last trading in BSE at Rs.56.85 as compared to the previous close of Rs. 56.05. The total number of shares traded during the day was 55359 in over 780 trades.

The stock hit an intraday high of Rs. 57.95 and intraday low of 55.3. The net turnover during the day was Rs. 3169770.

Source : Equity Bulls

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