Emco Ltd apporves allotment of 11,00,000 equity shares at Rs. 41

Pursuant to approval given by the shareholders of Emco Ltd at the Extra Ordinary General Meeting held on January 22, 2015 and the In-principal approval received from BSE dated February 18, 2015 & NSE dated February 16, 2015 and also pursuant to receipt of share application money from EMCO Investments Private Limited (a Promoter Group Company), the Board of Directors has, at their meeting held on February 26, 2015, approved the allotment of 11,00,000 Equity shares of Rs. 2/- each at a price of Rs.41/- per share i.e. at a premium of Rs.39/- per share on Private Placement / Preferential allotment basis to EMCO Investments Private Limited (a Promoter Group Company).

Shares of EMCO LTD. was last trading in BSE at Rs.38.25 as compared to the previous close of Rs. 39.6. The total number of shares traded during the day was 55670 in over 731 trades.

The stock hit an intraday high of Rs. 39.55 and intraday low of 38.1. The net turnover during the day was Rs. 2150771.

Source : Equity Bulls

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