Deccan Aviation allots 35,222,231 equity shares to Kingfisher Radio Ltd

Deccan Aviation Ltd has announced that the members at the Extra Ordinary General Meeting (EGM) of the Company held on June 26, 2007, inter alia, have approved the increase in the Authorized Share Capital of the Company from Rs 125 crores to Rs 150 crores. Accordingly, the present authorized share capital of the Company is Rs 150 crores comprising of 15 crore equity shares of Rs 10/- each.

The Committee of Directors (CoD) of the Company at its meeting held on June 30, 2007, have approved the allotment of 35,222,231 equity shares of RS 10/- each to Kingfisher Radio Ltd at a price of Rs 155/- per share (Premium of Rs 145/- per share). Accordingly, the paid up capital of the Company stands increased to Rs 1,354,701,180/- comprising of 135,470,118 equity shares of Rs 10/- each.

The stock was trading at Rs.140, up by Rs.2.35 or 1.71%. The stock hit an intraday high of Rs.142.90 and low of Rs.137.90. The total traded quantity was 110371 compared to 2 week average of 134333.

Source : Equity Bulls

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