Saurashtra Cement Ltd allots 18000000 Equity Shares

At the meeting of Allotment Committee of the Board of Directors of Saurashtra Cement Ltd held on November 10, 2015, the Company has allotted 1,80,00,000 equity shares of Rs.10 each - Rs.5/- per share paid-up to the Promoters and associates in compliance to the order dated March 14, 2013 of Hon'ble BIFR.

These shares shall be subject to lock in for a period of 3 years as per SEBI guidelines.

On being fully paid, the said shares shall rank pari passu with the existing equity shares.

The said shareholders shall be entitled to dividend proportionate to the amount paid up from the date of allotment.

Shares of SAURASHTRA CEMENT LTD. was last trading in BSE at Rs.59.55 as compared to the previous close of Rs. 61.4. The total number of shares traded during the day was 23320 in over 139 trades.

The stock hit an intraday high of Rs. 61.85 and intraday low of 59.05. The net turnover during the day was Rs. 1394979.

Source : Equity Bulls

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