Shekhawati Poly Yarn Ltd approves allotment of 2.6 crore equity shares

The Board of Directors of Shekhawati Poly Yarn Ltd at its meeting held on March 16, 2016, at 2.00 P.M. have considered and approved the allotment of 2,60,00,000 (Two Crores Sixty Lakhs Only) Equity Shares of Re. 1/- each, on conversion of warrants, at a conversion price of Rs. 3.06 each (including a premium of Rs. 2.06 each), to Mukesh Ramniranjan Ruia, forming part of Promoter Group.

Consequent to the aforesaid allotment, the paid up equity share capital of the Company has gone up from Rs. 27,39,45,964/- consisting of 27,39,45,964 equity shares of Rs. 1/- each to Rs. 29,99,45,964/- consisting of 29,99,45,964 equity shares of Rs. 1/- each.

Shares of SHEKHAWATI POLY-YARN LTD. was last trading in BSE at Rs.1.33 as compared to the previous close of Rs. 1.3. The total number of shares traded during the day was 24628 in over 26 trades.

The stock hit an intraday high of Rs. 1.33 and intraday low of 1.22. The net turnover during the day was Rs. 31659.

Source : Equity Bulls

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