CMI Ltd approves allotment of shares, warrants

The Board of Directors of CMI Ltd at its meeting held on February 19, 2015, the Board, in pursuance of resolution for preferential issue passed by the members through postal ballot on January 20, 2015, has approved the allotment of 1,60,000 (One Lac Sixty Thousand) Equity Shares of having face value Rs. 10/- (Rupees Ten only) each at a premium of Rs. 54/- Per Equity Share to non promoters, and allotment of 7,00,000 warrants @ Rs. 64/- per warrant (including premium of Rs. 54 per warrant), convertible into equal number of equity shares within a period of 18 months from the date of allotment, in respect of which minimum amount of 25% of the total consideration has been received, to the promoter group.

Shares of CMI LTD. was last trading in BSE at Rs.118.1 as compared to the previous close of Rs. 119.3. The total number of shares traded during the day was 8166 in over 192 trades.

The stock hit an intraday high of Rs. 121.6 and intraday low of 117.2. The net turnover during the day was Rs. 974791.

Source : Equity Bulls

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