Ahluwalia Contracts India Ltd approves allotment of 42.25 lakh shares

The Board of Directors of Ahluwalia Contracts (India) Ltd at its meeting held on December 05, 2014 approved the allotment of 25,35,000 Equity Shares to Mr. Bikramjit Ahluwalia and 16,90,000 equity shares to Mrs. Sudershan Walia, the Promoters of the Company aggregating to 42,25,000 equity shares of Rs. 2/- each at a price of Rs. 118/- per share.

This allotment was made based on the approval of the Board in its Board Meeting held on July 01, 2014 and approval of shareholders through Postal ballot on August 08, 2014 and the price was determined as on the relevant date viz. July 09, 2014 as per SEBI (Issue of Capital and Disclosure Requirement) Regulations, 2009.

Shares of AHLUWALIA CONTRACTS (INDIA) LTD. was last trading in BSE at Rs.215.55 as compared to the previous close of Rs. 227.8. The total number of shares traded during the day was 343227 in over 12470 trades.

The stock hit an intraday high of Rs. 232 and intraday low of 212. The net turnover during the day was Rs. 76615227.

Source : Equity Bulls

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