Rane Engine Valve Ltd allots 1568000 shares

At the meeting of the working committee of board of directors of Rane Engine Valve Ltd held on May 04, 2015 the Committee has allotted 15,68,000 equity shares of Rs. 10/- each as fully paid-up to the shareholders of Kar Mobiles Limited in the ratio of 7 (seven) fully paid up Equity Shares of Rs.10/- (Rupees Ten only) of the Company for every 10 shares of Rs.10/- (Rupees Ten only) held in Kar Mobiles Limited, pursuant to clause 5.1 of the Scheme of Amalgamation sanctioned by Hon'ble High Court of Judicature at Madras.

These newly allotted equity shares rank pari passu with the existing equity shares of the Company in all respects, including dividend.

Shares of RANE ENGINE VALVE LTD. was last trading in BSE at Rs.560 as compared to the previous close of Rs. 580. The total number of shares traded during the day was 12 in over 8 trades.

The stock hit an intraday high of Rs. 570.5 and intraday low of 560. The net turnover during the day was Rs. 6739.

Source : Equity Bulls

Keywords