Kalink Co. Ltd to subscribe for more shares of Steel Strips Wheels Ltd at Rs. 640/- per share

Steel Strips Wheels Limited had earlier announced the Board approval to issue and allot 2,A7,000 equity shares @ Rs 640/- per shares to Kalink Co. Ltd, by way of preferential allotment basis, under the SEBI (lssue of Capital and Disclosure Requirements) Regulations, 2009 and its subsequent amendments made from time to time and other applicable rules, regulations and guidelines and subject to the approval of Shareholders, Statutory Authorities / Regulatory authorities or any other approval as may be required.

Kalink Co. Ltd. has expressed its willingness to subscribe 2,08,650 equity shares of Steel Strips Wheels Limited (instead of 2,07,000 equity shares) @ Rs. 6401 per shares. We have already received the require fund from Kalink Co. Limited for the allotment of aforstated 2, 08,650 equity shares @ Rs. 6401 per share.

Shares of STEEL STRIPS WHEELS LTD. was last trading in BSE at Rs.371.6 as compared to the previous close of Rs. 366. The total number of shares traded during the day was 9913 in over 767 trades.

The stock hit an intraday high of Rs. 388 and intraday low of 350. The net turnover during the day was Rs. 3731452.

Source : Equity Bulls

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