Sree Rayalaseema Alkalies & Allied Chemicals Ltd allots 4143202 shares

The Board of Directors of Sree Rayalaseema Alkalies & Allied Chemicals Ltd at its meeting held on January 29, 2016, has approved the issue and allotment of 41,43,202 Equity Shares of Rs. 10/- each (Face value) with a premium of Rs. 7.02 per share to M/s. Brilliant Industries Pvt. Ltd. (Promoter) upon conversion of First Tranche Convertible Share Warrants.

The Board also approved the co-option/appointment of Dr. M. Asha Reddy as Additional Director on the Board of the Company.

Shares of SREE RAYALASEEMA ALKALIES & ALLIED CHEMICALS LTD. was last trading in BSE at Rs.18.5 as compared to the previous close of Rs. 18.35. The total number of shares traded during the day was 229894 in over 382 trades.

The stock hit an intraday high of Rs. 18.9 and intraday low of 18.3. The net turnover during the day was Rs. 4258823.

Source : Equity Bulls

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