Ashok Alco Chem Ltd allots 450000 shares

The Board of Directors of Ashok Alco Chem Ltd at its meeting held on March 25, 2015, has issued and allotted 4,50,000 Equity Shares of Rs. 10/- each at a premium of Rs. 20/- per share to Aura Alkalies and Chemical Private Limited, Promoter Group Company of the Company pursuant to conversion of 4,50,000 Warrants of Rs. 30/- each held by Aura Alkalies and Chemicals Private Limited.

Further post this allotment, the holding of Aura Alkalies and Chemicals Private Limited is increased to 54.75% in Ashok Alco-Chem Limited and consequently, Aura Alkalies and Chemicals Private Limited becomes Holding Company of Ashok Alco-Chem Limited.

Pursuant to the allotment of the above Equity Shares, the paid up equity capital of the Company has increased from Rs. 4,15,03,430 divided into 41,50,343 Equity Shares of Rs 10/- each to Rs. 4,60,03,430 divided into 46,00,343 Equity Shares of Rs 10/- each.

The new Equity Shares shall rank pari-pasu with the then Existing Equity Shares of the Company in all respects including right as to dividend.

Shares of ASHOK ALCO-CHEM LTD. was last trading in BSE at Rs.127.1 as compared to the previous close of Rs. 108.7. The total number of shares traded during the day was 15020 in over 479 trades.

The stock hit an intraday high of Rs. 130.4 and intraday low of 109.9. The net turnover during the day was Rs. 1851072.

Source : Equity Bulls

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