Kirloskar Electric Company Ltd allots 2554156 shares

The Board of Directors of Kirloskar Electric Company Ltd at its meeting held on February 11, 2016, has issued and allotted 2,554,156 Equity Shares of Rs. 10/- each at a price of Rs. 30.44/- per share for an aggregate amount of Rs. 7,77,48, 500/- (Rupees Seven Crores, Seventy Seven Lakhs, Forty Eight Thousands and Five Hundred Only) each ranking in pari passu with the existing Equity Shares of the company in lieu of 1,77,485 Compulsorily Convertible Preference Shares of face value of Rs. 100/- each.

Shares of Kirloskar Electric Company Ltd was last trading in BSE at Rs.24.6 as compared to the previous close of Rs. 25.05. The total number of shares traded during the day was 132832 in over 697 trades.

The stock hit an intraday high of Rs. 26.8 and intraday low of 23.5. The net turnover during the day was Rs. 3243229.

Source : Equity Bulls

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