Apollo Tyres Ltd allots 50 lac shares

The "Committee of Directors (Preferential issue)" of Apollo Tyres Ltd at its meeting held on June 19, 2014 allotted 50 lac equity shares of Re. 1/- each, to Classic Auto Tubes Ltd. (a promoter group entity) @ Rs. 86.20/- per Equity Share (including Rs. 85.20/- towards share premium) against receipt of the full payment on exercise of option of conversion of 50 lac warrants into equity shares in accordance with the terms and conditions of issue of warrants. The above shares shall rank pari passu with the existing equity shares of the Company and shall be entitled to dividends and corporate benefits, if any paid/declared by the Company after the allotment.

Shares of APOLLO TYRES LTD. was last trading in BSE at Rs.193.15 as compared to the previous close of Rs. 196.3. The total number of shares traded during the day was 480547 in over 8299 trades.

The stock hit an intraday high of Rs. 200.9 and intraday low of 191.7. The net turnover during the day was Rs. 94333081.

Source : Equity Bulls

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