Networth Stock Broking Ltd allots 19080000 shares

The Board of Directors of Networth Stock Broking Ltd at its meeting held on October 27, 2014, have issued and allotted 19,080,000 Equity shares of Rs. 10/- each to the shareholders of erstwhile Monarch Research and Brokerage Private Limited ("MRBPL") and Monarch Project and Finmarkets Limited ("MPFL"), pursuant to the scheme of Amalgamation under Sections 391 to 394 read with Sections 78, 100 to 104 and other applicable provisions, if any, of the Companies Act,1956, as approved by the Hon'ble High Court of Gujarat vide its order dated May 03, 2014 and by the Hon'ble High Court of Bombay vide its order dated August 07, 2014 and the said scheme has become effective from October 15, 2014 being the later of the dates on which certified copies of the order of the High Court sanctioning the Scheme is filed with the Registrars of Companies, Maharashtra, Mumbai.

Consequent to the said allotment, the Paid up share capital of the Company has been increased from Rs. 112,316, 000/- to Rs. 303,116,000/-.

Shares of NETWORTH STOCK BROKING LTD. was last trading in BSE at Rs.22.95 as compared to the previous close of Rs. 21.25. The total number of shares traded during the day was 6095 in over 34 trades.

The stock hit an intraday high of Rs. 23 and intraday low of 19.2. The net turnover during the day was Rs. 132267.

Source : Equity Bulls

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