Gokak Textiles Ltd allots 3 crores Preference Shares on Private Placement Basis

Gokak Textiles Ltd on September 27, 2016 has issued and allotted 300,00,000 Non-cumulative Non-convertible, Redeemable Preference Shares of face value Rs. 10 each on private placement basis to the Promoter, Shapoorji Pallonji and Company Private Limited.

The said Preference Shares are not proposed to be listed on stock exchanges.

In view of the above the issue and allotment, the issued, subscribed and paid up capital of the Company has increased from Rs. 46,49,93,080 to Rs. 76,49,93,080 comprising of 64,99,308 equity shares of Rs. 10 each and 7,00,00,000 non cumulative non convertible redeemable preference shares of Rs. 10 each.

Shares of GOKAK TEXTILES LTD. was last trading in BSE at Rs.55 as compared to the previous close of Rs. 57. The total number of shares traded during the day was 2110 in over 14 trades.

The stock hit an intraday high of Rs. 55 and intraday low of 52. The net turnover during the day was Rs. 113446.

Source : Equity Bulls

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