Neuland Laboratories Ltd allots Equity Shares on Rights basis to non-resident shareholders

Pursuant to receipt of approval of Foreign Investment Promotion Board ("FIPB"), the Board of Directors of Neuland Laboratories Ltd had, on December 17, 2014, allotted 2,804 fully paid up equity shares of a face value of Rs. 10/- each, out of the Rights Issue of 12,25,276 Equity Shares. The allotment of these 2,804 equity shares was kept in abeyance, pending FIPB approval.

Consequently w.e.f. December 17, 2014, the paid-up equity capital of the Company stands increased to Rs. 8,88,32,540/- from Rs. 8,88,04,500.

Shares of NEULAND LABORATORIES LTD. was last trading in BSE at Rs.454.5 as compared to the previous close of Rs. 430.35. The total number of shares traded during the day was 2139 in over 509 trades.

The stock hit an intraday high of Rs. 454.9 and intraday low of 440. The net turnover during the day was Rs. 955583.

Source : Equity Bulls

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