Mukat Pipes Ltd approves reduction of Capital and Preferential Allotment of Equity shares as per BIFR Order

In terms of para 11.5 and 16 of the Order passed by Hon'ble BIFR on February 19, 2015 Mukat Pipes Ltd reduced its Share Capital by de-rating its existing Authorised Share Capital by 50% by reducing the face value of the existing Equity Shares of Rs.10/- each to Rs. 5/- each. In terms of the said sanctioned Scheme of DRS the Authorised Share Capital consisting of 1,00,00,000 Equity shares of Rs.10/- each aggregating to Rs.10 Crores was sub-divided into 2,00,00,000 Equity shares of Rs.5/- each aggregating to Rs.10 crores and that Paid up Share Capital consisting of 78,30,000 Equity shares of Rs.10/- each aggregating to Rs. 7,83,00,000 was reduced / de-rated to Rs. 78,30,000 Equity share of Rs.5/- each to Rs. 3,91,50,000. The said reduction in paid up capital, as approved by the BIFR vide their Order passed on 19.02.2015 sanctioning the Scheme of DRS, was confirmed by BIFR and registered by the ROC, Maharashtra, Mumbai on August 26, 2015."

Shares of MUKAT PIPES LTD. was last trading in BSE at Rs.3.12 as compared to the previous close of Rs. 3.28. The total number of shares traded during the day was 500 in over 3 trades.

The stock hit an intraday high of Rs. 3.12 and intraday low of 3.12. The net turnover during the day was Rs. 1560.

Source : Equity Bulls

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