Universal Cables Ltd allots Equity Shares pursuant to Right Issue

In accordance with the terms of Letter of Offer dated September 14, 2015, the Rights Issue Committee of the Board of Directors of Universal Cables Ltd at its Meeting held on October 20, 2015, after the receipt of approval on the Summary Basis of Allotment from BSE Limited (the Designated Stock Exchange for the purpose), has approved allotment of 1,15,65,127 Equity Shares of Face Value of Rs.10 each at an issue price of Rs.51 per equity share (including premium of Rs.41 per share) to the shareholders and renouncees on Rights basis.

The said allotment is fully in accordance with the Summary Basis of Allotment approved by the BSE Ltd for the Rights issue on October 20, 2015.

Shares of UNIVERSAL CABLES LTD. was last trading in BSE at Rs.55.4 as compared to the previous close of Rs. 53.85. The total number of shares traded during the day was 14508 in over 48 trades.

The stock hit an intraday high of Rs. 55.8 and intraday low of 52. The net turnover during the day was Rs. 784287.

Source : Equity Bulls

Keywords