Dagger Forst Tools Allots Equity Shares under Composite Issue of the Company

Dagger Forst Tools Ltd has announced that a meeting of Issue Committee of the Board of Directors of the Company was held on September 21, 2007 to take on record the Basis of Allotment. The Committee than made the Allotment of Equity Shares to the successful applicants in the following manner:

1. 33,21,053 equity shares of Face Value of Rs 10/- each at a premium of Rs 23/- per share (i.e. at a price of Rs 33/- per share) aggregating to Rs 10,95,94,749/- were allotted to the existing shareholders under the Rights Issue.

2. 35,31,150 equity shares of Face Value of Rs 10/- each, at a premium of Rs 35/- per share (i.e. at a price Rs 45/- per share) aggregating to Rs 15,89,01,750/- were allotted to the General Public (including Retail, High Net-worth and Corporate applicants).

3. 4,00,000 equity shares of Face Value of Rs 10/- each, at a premium of Rs 35/- per share (i.e. at a price Rs 45/- per share) aggregating of Rs 1,80,00,000/- were allotted to the Promoters as stated in the Prospectus dated July 23, 2007.

The stock closed the day at Rs.42, down by Rs.0.40 or 0.94%. The stock hit an intraday high of Rs.43 and low of Rs.40.10.

The total traded quantity was 4495 compared to 2 week average of 6831.

Source : Equity Bulls

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