IOL Chemicals & Pharmaceuticals Ltd allots shares at Rs. 18

The Share Allotment Committee of the Board of Directors of IOL Chemicals & Pharmaceuticals Ltd in its meeting held on June 21, 2014 allotted 22,00,000 equity shares of Rs. 10/- each at a premium of Rs. 18 per share to the non promoters of the Company which will be locked in for a period of one year from the date of trading approval.

53,60,713 equity shares of face value of Rs. 10 each at a premium of Rs. 18 per share to promoter group companies which will be locked in for a period of three years from the date of trading approval and 17,85,714 equity shares of face value of Rs. 10 each at a premium of Rs. 18 per share to non promoter which will be locked in for a period of one year from the date of trading approval on the redemption of preference shares.

Consequent upon the issue of the above 93,46,427 equity shares, the total paid-up capital of the Company stands increased to 3,81,61,591 fully paid equity shares of Rs. 10/- each.

Shares of IOL CHEMICALS & PHARMACEUTICALS LTD. was last trading in BSE at Rs.48.85 as compared to the previous close of Rs. 51.4. The total number of shares traded during the day was 1621 in over 39 trades.

The stock hit an intraday high of Rs. 49 and intraday low of 48.85. The net turnover during the day was Rs. 79200.

Source : Equity Bulls

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