Promoters increase stake in Asian Oilfield Services Ltd to 59.29%

The warrant holders of preferential issue made by Asian Oilfield Services Ltd earlier have exercised their right for conversion and applied for full conversion of warrants into equity shares. Consequently, the allotment committee of the board of directors of the company at its meeting held on March 23, 2018 has made allotment of total 41,00,000 equity shares of Rs. 10 each at an issue price of Rs. 80 per share (including premium of Rs. 70 per share) on preferential basis to the promoter (Oilmax Energy Private Limited).

Upon allotment of these shares, the paid up equity share capital of the company has increased to Rs. 38,07,44,440 comprising of 3,80,74,444 equity shares of Rs. 10 each.

Subsequent to this allotment, the shareholding of the promoter has changed to 59.29% of the enhanced paid up equity share capital of the company.

Shares of ASIAN OILFIELD SERVICES LTD. was last trading in BSE at Rs.188.35 as compared to the previous close of Rs. 192.25. The total number of shares traded during the day was 38851 in over 215 trades.

The stock hit an intraday high of Rs. 190.95 and intraday low of 185. The net turnover during the day was Rs. 7303684.

Source : Equity Bulls

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