Balasore Alloys Ltd allots 1 crore shares at Rs. 21.50

The Committee of Balasore Alloys Ltd for Preferential Issue of Warrants of the Board of Directors at their meeting held today has allotted 1,00,00,000 Equity Shares of Rs. 5/- each at a price of Rs. 21.50/- including premium of Rs. 16.50/- per Equity Shares to the Promoter Group entities / Persons Acting in Concert ('PAC') on preferential basis, pursuant to conversion of equivalent number of Convertible Warrants.

Out of the 2,30,00,000 Convertible Warrants the remaining 1,30,00,000 Warrants shall be converted into Equity Shares in the financial year 2017-18.

Shares of BALASORE ALLOYS LTD. was last trading in BSE at Rs.68.05 as compared to the previous close of Rs. 66.95. The total number of shares traded during the day was 148635 in over 604 trades.

The stock hit an intraday high of Rs. 68.9 and intraday low of 66.3. The net turnover during the day was Rs. 10092322.

Source : Equity Bulls

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