Autoline Industries Ltd approves issue of 28 lakh shares

The Board of Directors of Autoline Industries Ltd in their meeting, has considered and approved, subject to approval of Shareholders of the Company, issue of 28,00,000 Equity Shares in aggregate, having face value of INR 10/- each on Preferential Basis to proposed allottees - Sharjah Cement and Industrial Development Corporation, Mr. Rakesh Jhunjhunwala, Mrs. Bharatiben Batavia, Mr. Shivaji Akhade and Mr. Sudhir Mungase, at an Issue Price of INR 60/- per share or at such higher price as may be determined in compliance with the Chapter VII of the Securities & Exchange Board of India (Issue of Capital & Disclosure Requirements) Regulations, 2009 and subsequent amendments thereto ["SEBI (ICDR) Regulation, 2009"].

The Meeting of the Board of Directors concluded at 4:30 pm.

Shares of AUTOLINE INDUSTRIES LTD. was last trading in BSE at Rs.61.45 as compared to the previous close of Rs. 63.95. The total number of shares traded during the day was 68275 in over 860 trades.

The stock hit an intraday high of Rs. 65.3 and intraday low of 61. The net turnover during the day was Rs. 4313108.

Source : Equity Bulls

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