Magma Fincorp Ltd allots 30000 Equity Shares

The Nomination and Remuneration Committee of the Board of Directors of Magma Fincorp Ltd which has been authorised in this regard has allotted 30,000 Equity Shares of face value of Rs. 2/- each at a price of Rs. 60/- per share (including a premium of Rs. 58/- per share) to an erstwhile employee of the Company under Magma Employee Stock Option Plan 2007 ("the Scheme") through resolution passed by circulation on April 24, 2015.

Pursuant to this allotment, the issued, subscribed and paid-up equity share capital of the Company will stand increased to Rs. 38,09,11,750/- (Rupees Thirty Eight Crores Nine Lakhs Eleven Thousand and Seven Hundred Fifty only) consisting of 19,04,55,875 Nos. (Nineteen Crores Four Lakhs Fifty Five Thousand Eight Hundred and Seventy Five) of Equity Shares of Rs. 2/- each.

Shares of MAGMA FINCORP LTD. was last trading in BSE at Rs.93.65 as compared to the previous close of Rs. 97.05. The total number of shares traded during the day was 9964 in over 236 trades.

The stock hit an intraday high of Rs. 96.5 and intraday low of 93. The net turnover during the day was Rs. 938778.

Source : Equity Bulls

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