Siti Cable Network Ltd allots shares

The Board constituted Allotment Committee of Siti Cable Network Ltd in its meeting held on February 19, 2016, has approved issue and allotment of 142857142 (Fourteen Crore Twenty Eight Lacs Fifty Seven Thousand One Hundred Forty Two only) number of Warrants to the allottees as per terms of issue approved by the members earlier, upon receipt of an aggregate amount of Rs. 349,99,99,973.75 towards Warrants subscription money.

The Board allots 51428571 (Five Crore Fourteen Lakhs Twenty Eight Thousand Five Hundred Seventy One only) number of OFCDs to the allottee as per terms of issue approved by the members earlier, upon receipt of an amount of Rs. 179,99,99,985/- towards OFCDs subscription money.

The Board also allotted 85714285 (Eight Crore Fifty Seven Lakhs Fourteen Thousand Two Hundred Eighty Five only) number of Equity Shares of Re. 1/- each of the Company, at an issue price of Rs. 35/- per Equity Share (including premium of Rs. 34/- per Equity Share), upon conversion and cancellation of equivalent number of fully paid Warrants allotted to the allottee as detailed herein, consequent upon receipt of 100% of the issue price amounting to Rs. 299,99,99,975/- (Rupees Two Hundred Ninety Nine Crore Ninety Nine Lakhs Ninety Nine Thousand Nine Hundred Seventy Five only).

Shares of SITI CABLE NETWORK LTD. was last trading in BSE at Rs.34.3 as compared to the previous close of Rs. 33.55. The total number of shares traded during the day was 20690 in over 235 trades.

The stock hit an intraday high of Rs. 34.65 and intraday low of 33.3. The net turnover during the day was Rs. 701636.

Source : Equity Bulls

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