Stylam Industries Limited seeks EGM nod for preferential issue

The Board of Directors of Stylam Industries Limited at its meeting held on April 6th , 2017 has considered and approved the increase in the Authorized Share Capital from existing 80,05,000 Equity Shares of face value of Rs.10/- each to 85,50,000 Equity Shares of face value of Rs.10/- each.

The Board also approved increase of 500,000 Equity Shares of face value of Rs.10/- each, alteration of the Capital Clause in the Memorandum of Association and Articles of Association of the Company for increase in Authorized Share Capital and accorded to create, offer, issue and allot up 8,50,000 Equity shares to non-promoters allottee ('Investor').

The Board of Directors has decided to convene an Extra Ordinary General Meeting on May 03rd, 2017 for seeking approval of the shareholders for issuance of Equity Shares on Preferential basis.

Shares of Stylam Industries Limited was last trading in BSE at Rs.656.1 as compared to the previous close of Rs. 653.95. The total number of shares traded during the day was 11922 in over 236 trades.

The stock hit an intraday high of Rs. 668 and intraday low of 635. The net turnover during the day was Rs. 7787891.

Source : Equity Bulls

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