Excel Industries Ltd allots 825000 shares

The Allotment Committee of Directors of Excel Industries Ltd at its meeting held on July 24, 2015 has issued and allotted 8,25,000 fully paid equity shares of Rs. 5/- each of the Company at a premium of Rs. 64/- per share to Utkarsh Global Holdings Private Limited (a promoter group company) by conversion of 8,25,000 warrants out of 10,00,000 convertible warrants held by the allottee on preferential basis in terms of Chapter VII of SEBI (ICDR) Regulations, 2009.

The equity shares issued and allotted to Utkarsh Global Holdings Private Limited, by conversion of warrants, shall rank pari passu in all respect with the existing equity shares of the Company and the equity shares shall be locked-in for three years from the date of trading approval granted for such equity shares.

Shares of EXCEL INDUSTRIES LTD. was last trading in BSE at Rs.304.2 as compared to the previous close of Rs. 310.6. The total number of shares traded during the day was 12317 in over 593 trades.

The stock hit an intraday high of Rs. 314.9 and intraday low of 301.1. The net turnover during the day was Rs. 3796163.

Source : Equity Bulls

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