Monnet Ispat & Energy Ltd approves allotment of conversion of loan into equity shares

The Allotment Committee of Monnet Ispat & Energy Ltd in its meeting held on December 31, 2015 has considered and approved the allotment of Equity shares pursuant to conversion of loan into Equity shares in line with the provisions of SDR scheme invoked by Joint Lenders Forum.

The Board also approved the allotment of Equity shares pursuant to the Conversion of loan into Equity shares in terms of decision of Joint Lenders Forum as a part of Corrective Action plan to the entities belonging to promoter and non-promoter category.

Shares of MONNET ISPAT & ENERGY LTD. was last trading in BSE at Rs.33.65 as compared to the previous close of Rs. 35.25. The total number of shares traded during the day was 82550 in over 675 trades.

The stock hit an intraday high of Rs. 35.6 and intraday low of 33. The net turnover during the day was Rs. 2797590.

Source : Equity Bulls

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