Atlas Jewellery India approves preferential issue of 5 crore shares at Rs. 20

The Board of Directors of Atlas Jewellery India Limited (Formerly known as "GEE El Woolens Limited") at its meeting on June 9, 2014 has approved the issue of 5,00,00,000 (Five Crore only) equity shares on preferential basis to Mr. M.M. Ramachandran, who belongs to the promoter group of Atlas Jewellery India Limited. Mr. M.M.Ramachandran is also a director and Chairman of Atlas Jewellery India Ltd.

The proposed allotment will be made at a price of Rs. 20 per share including premium of Rs. 10 per share calculated in terms of the provisions of SEBI (ICDR) Regulations. The proposed allotment is subject to the approval of shareholders in general meeting of the company and other approvals if any.

Shares of GEE EL WOOLLENS LTD. was last trading in BSE at Rs.19.5 as compared to the previous close of Rs. 18.6. The total number of shares traded during the day was 200 in over 2 trades.

The stock hit an intraday high of Rs. 19.5 and intraday low of 19.5. The net turnover during the day was Rs. 3900.

Source : Equity Bulls

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