Surana Telecom and Power Ltd allots 41133113 shares

The Board of Directors of Surana Telecom and Power Ltd at their Meeting held on Friday 17th March, 2017 approved and allotted 4,11,33,113 fully paid-up equity shares of Re.1/- each of the Company, to the members whose names are recorded in the register of members of Bhagyanagar India Limited on Record Date, as per the swap ratio i.e., 4 equity shares of Re.1/- each fully paid up of Surana Telecom and Power Limited for every 6 equity shares of Rs.2/- each fully paid of Bhagyanagar India Limited.

The shares allotted pursuant to the Scheme of Arrangement shall: a)in the case of shares allotted in demat form, remain frozen in the depositories system and therefore, not be available for trading; and b)in the case of shares allotted in physical form, not be available for trading on the floor of the Stock Exchange(s) till the relevant listing / trading permissions are given by the Stock Exchange(s).

Shares of Surana Telecom And Power Limited was last trading in BSE at Rs.5.87 as compared to the previous close of Rs. 4.96. The total number of shares traded during the day was 119758 in over 144 trades.

The stock hit an intraday high of Rs. 5.95 and intraday low of 4.88. The net turnover during the day was Rs. 677672.

Source : Equity Bulls

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