Safari Industries India Ltd approves allotment of 165000 shares

The Board of Director of Safari Industries India Ltd vide their circular resolution effective January 08, 2016 have approved the allotment of 1,65,000 (One Lac and Sixty Five Thousand) Equity Shares of Rs. 10/- each at a premium of Rs. 590/- per share to Mr. Sudhir Jatia, Promoter & Managing Director of the Company upon his exercise of option to convert 1,65,000 convertible shares warrants into equity shares.

Consequent to the said allotment, the Paid up Equity Share Capital of the Company stands increased from Rs. 3,98,50,000/- divided into 39,85,000 Equity Shares of Rs. 10/- each to Rs. 4,15,00,000/- divided into 41,50,000 Equity Shares of Rs. 10/-each.

Shares of SAFARI INDUSTRIES (INDIA) LTD. was last trading in BSE at Rs.960 as compared to the previous close of Rs. 967. The total number of shares traded during the day was 512 in over 20 trades.

The stock hit an intraday high of Rs. 1050 and intraday low of 960. The net turnover during the day was Rs. 515370.

Source : Equity Bulls

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