Stylam Industries Ltd allots 850000 shares

The meeting of the Board of Directors of Stylam Industries Ltd held on 11th day of the May, 2017 to considered and approved, allotment of 8,50,000 Equity shares ('Issue Shares') of Rs. 10 each, on a preferential basis for cash at a price of Rs. 601/- (Rupees Six Hundred One Only) per Issue Share aggregating upto Rs. 51,08,50,000/- (Rupees Fifty One Crore Eight Lakh Fifty Thousand Only), including premium of Rs. 591/- (Rupees Five Hundred Ninety One Only) per Issue Share, to non–promoters allottee ('Investor').

Lighthouse Emerging India Investors, Limited (Non-Promoter - Foreign Bodies Corporate) has been allotted 8,50,000 equity shares amounting to Rs. 51,08,50,000/-

The Board Meeting commenced at 7:30 P.M. and concluded at 8:00 P.M.

Shares of Stylam Industries Limited was last trading in BSE at Rs.692 as compared to the previous close of Rs. 700.45. The total number of shares traded during the day was 8899 in over 164 trades.

The stock hit an intraday high of Rs. 713 and intraday low of 686.8. The net turnover during the day was Rs. 6232207.

Source : Equity Bulls

Keywords