JK Paper Ltd allots 11910000 Equity Shares on Preferential Basis

The shareholders of JK Paper Ltd had approved by passing a Special Resolution the issue of 1,19,10,000 Equity Shares of Rs.10/- each on preferential basis to the Promoter and constituents of the Promoter Group of the Company for cash at a price of Rs.42/- each (including a premium of Rs.32/- each) at the Extra Ordinary General Meeting of the Company held on September 02, 2015.

The Committee of Directors of the Company at its meeting held on September 16, 2015 has allotted 1,19,10,000 Equity Shares of Rs. 10/- each on preferential basis to the Promoter and constituents of the Promoter Group of the Company for cash at a price of Rs. 42/- each (including a premium of Rs. 32/- each) aggregating to Rs. 50,02,20,000/- (Rs. Fifty crores two lac and twenty thousand only) in accordance with the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2009 and Section 62(1 )(c) and other applicable provisions of the Companies Act, 2013.

Shares of JK PAPER LTD. was last trading in BSE at Rs.37.4 as compared to the previous close of Rs. 37.5. The total number of shares traded during the day was 3441 in over 31 trades.

The stock hit an intraday high of Rs. 37.9 and intraday low of 37. The net turnover during the day was Rs. 129023.

Source : Equity Bulls

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