Gujarat NRE Coke Ltd approves allotment of 2943686 shares to ICICI Bank

The Management Committee of the Board of directors of Gujarat NRE Coke Ltd at its meeting held on September 12, 2014, inter alia, has considered, and approved the allotment of 29,43,686 equity shares of Rs. 10 each at a premium of Rs. 1.01 per equity share consequent upon the option exercised by ICICI Bank Ltd to convert its Funded Interest term loan (FITL) into equity shares of the Company under CDR Package in accordance with the resolution passed by the shareholders through postal ballot.

Consequently, the paid-up capital of the Company has increased from Rs. 673,02,93,590 to Rs. 675,97,30,450 comprising of 62,34,85,035 Equity Shares of Rs. 10/- each and 5,24,88,010 "B" Equity Shares of Rs. 10/- each.

Shares of GUJARAT NRE COKE LTD. was last trading in BSE at Rs.9.1 as compared to the previous close of Rs. 9.23. The total number of shares traded during the day was 368835 in over 1464 trades.

The stock hit an intraday high of Rs. 9.4 and intraday low of 9.01. The net turnover during the day was Rs. 3389227.

Source : Equity Bulls

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