CMI Ltd Board approves allotment of shares, warrants

The Board of Directors of CMI Ltd at its meeting held on August 14, 2015, has approved the allotment of 19,45,650 (Nineteen Lac Forty Five thousand Six Hundred Fifty) Equity Shares of having face value Rs. 10/- (Rupees Ten only) each at a premium of Rs 91/- Per Equity Share to non promoters.

The Board also approved the allotment of 7,00,000 warrants @ Rs. 101/- per warrant (including premium of Rs 91 per warrant), convertible into equal number of equity shares within a period of 18 months from the date of allotment, in respect of which minimum amount of 25% of the total consideration has been received, to the promoter group.

The Company has received in principle approval from the Bombay Stock Exchange Limited vide its letter dated July 31, 2015.

Shares of CMI LTD. was last trading in BSE at Rs.184.3 as compared to the previous close of Rs. 185. The total number of shares traded during the day was 18940 in over 167 trades.

The stock hit an intraday high of Rs. 191.5 and intraday low of 175.3. The net turnover during the day was Rs. 3565188.

Source : Equity Bulls

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