IG Petrochemicals approves allotment of shares on conversion of debentures

IG Petrochemicals Ltd has announced that the Board of Directors of the Company at its meeting held on September 26, 2007, has approved allotment of 45,00,000 equity shares on conversion of debentures (Part A) at the rate of Rs 29.68 per share as per the Valuation Report received from the Statutory Auditors and a Chartered Accountant.

With this the Paid-up Share Capital of the Company has increased from Rs 26,29,48,500 to Rs 30,79,48,500/-.

The stock closed the day at Rs.75.05, down by Rs.0.80 or 1.05%. The stock hit an intraday high of Rs.78 and low of Rs.74.

The total traded quantity was 64421 compared to 2 week average of 28010.

Source : Equity Bulls

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