Steel Strips Wheels Ltd to restart process to issue shares to Kalink Co. Ltd

The Board of Directors of Steel Strips Wheels Ltd have approved to offer, issue and allot 2,08,650 (Two Lac Eight Thousand Six Hundred and Fifty) equity shares of Rs. 10/- each to Kalink Co. Ltd., at a rate of Rs. 640/- each by way of preferential allotment subject to the approval of Shareholders, Statutory Authorities, Regulatory Authorities or any other approval as may be required.

Since the De-mat account of Kalink Co. Ltd. is not yet opened, which was necessary to allot the shares as per SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2009 as amended from time to time, the above Board approval becomes infructuous. Therefore the Company will restart the process to offer, issue and allot shares to Kalink Co. Ltd. as and when the said De-mat account of Kalink Co. Ltd. is opened.

Shares of STEEL STRIPS WHEELS LTD. was last trading in BSE at Rs.350.7 as compared to the previous close of Rs. 338.5. The total number of shares traded during the day was 7101 in over 334 trades.

The stock hit an intraday high of Rs. 355.7 and intraday low of 343.8. The net turnover during the day was Rs. 2481480.

Source : Equity Bulls

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