Shree Precoated Steels Allots 41666667 equity shares on amalgamation

Shree Precoated Steels Ltd has announced that the Allotment Committee of the Board of Directors of the Company at its meeting held on September 19, 2007 allotted 4,16,66,667 Equity Shares of Rs 10 each fully paid up to the erstwhile shareholders of Anik Development Corporation Pvt Ltd ("ADCPL") pursuant to the duly approved Scheme of Amalgamation of ADCPL with the Company.

After allotment of 4,16,66,667 Equity Shares, the Company's paid up capital will be 11,82,82,917 Equity Shares of Rs 10 each.

The Stock closed on Monday at Rs.410.55, down by Rs.13.55 or 3.20%. The stock hit an intraday high of Rs.437 and low of Rs.405.

The total traded quantity was 78490 compared to 2 week average of 637736.

Source : Equity Bulls

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