United Drilling Tools Ltd to allot 4822222 shares on amalgamation

The Board of Directors of United Drilling Tools Ltd at its meeting held on October 07, 2014, has considered and approved the Allotment of 48,22,222 Equity Shares to all the equity shareholders of the Transferor Company i.e. Macro Steel Engineers Pvt. Ltd. in the ratio of 2:9 (i.e. Two new equity shares for every Nine equity shares) pursuant to the Scheme of Amalgamation of Macro Steel Engineers Pvt. Ltd. with United Drilling Tools Ltd., as approved by the Hon'ble High Court of Delhi.

Shares of UNITED DRILLING TOOLS LTD. was last trading in BSE at Rs.67.3 as compared to the previous close of Rs. 68.6. The total number of shares traded during the day was 634 in over 11 trades.

The stock hit an intraday high of Rs. 69.95 and intraday low of 67.3. The net turnover during the day was Rs. 43275.

Source : Equity Bulls

Keywords