Orient Paper & Industries Ltd approves allotment of 7316742 shares on rights basis

The Rights Issue Committee of Orient Paper & Industries Ltd, in its meeting held on February 17, 2017 has approved the allotment of 7,316,742 Equity shares of face value Rs. 1 each at a price of Rs. 68 per equity share (including a premium of Rs. 67 per equity share) issued on a rights basis, to all eligible applicants, who have subscribed to the said issue and whose applications were valid.

Pursuant to above, the paid up share capital of the Company stands increased to Rs. 2,121.86 divided into 212,185,502 Equity shares of Rs. 1 each.

The meeting concluded at 2:30 p.m.

Shares of ORIENT PAPER & INDUSTRIES LTD. was last trading in BSE at Rs.77.75 as compared to the previous close of Rs. 78.05. The total number of shares traded during the day was 34129 in over 534 trades.

The stock hit an intraday high of Rs. 78.1 and intraday low of 76. The net turnover during the day was Rs. 2637894.

Source : Equity Bulls

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