Deccan Chronicle Holdings allots 66037735 shares to SREI Infrastructure Finance Ltd

Pursuant to orders of the Hon'ble Debt Recovery Tribunal - I, Kolkatta dated December 24, 2014, and pursuant to meeting of the Board dated January 16, 2014 and meeting of the preferential issue committee of the Board dated September 08, 2014, Deccan Chronicle Holdings Ltd has issued and allotted 6,60,37,735 Equity shares of Rs. 2 each at a premium of Rs. 1.18 per share to SREI Infrastructure Finance Limited being a lender to the Company. The said shares have been issued pursuant to the conversion option exercised by SREI Infrastructure Finance Limited as per Section 81(3) of the Companies Act, 1956 and as directed by the said orders of the Hon'ble Debt Recovery Tribunal - I, Kolkatta. The said shares have been issued in the physical form as requested by SREI Infrastructure Finance Limited.

The allotment is subject to the provision of Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2009 Listing agreement signed with the Stock Exchanges, guidelines issued by Reserve Bank of India, Government of India and other applicable laws.

Shares of DECCAN CHRONICLE HOLDINGS LTD. was last trading in BSE at Rs.2.43 as compared to the previous close of Rs. 2.32. The total number of shares traded during the day was 106230 in over 196 trades.

The stock hit an intraday high of Rs. 2.43 and intraday low of 2.31. The net turnover during the day was Rs. 254214.

Source : Equity Bulls

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