Shalimar Paints Ltd allots shares on rights basis

Pursuant to the approval received for finalizing the basis of allotment from BSE Limited (Designated Stock Exchange) on 27th April, 2018, the Rights Issue Committee of Shalimar Paints Ltd in their meeting held today i.e., 27th April, 2018 has allotted 35,52,370 Equity Shares of Rs. 2/- each issued at a price of Rs. 140/- per share (including premium of Rs. 138/- per share) aggregating to Rs. 4,973.32 Lakhs on rights basis to the eligible existing shareholders of the Company as on the record date i.e., December 29, 2017, whose applications were valid.

Pursuant to above, the paid-up share capital of the Company stands increased to Rs. 449.97 Lacs divided into 2,24,98,345 shares of Rs. 2/- each.

Shares of SHALIMAR PAINTS LTD. was last trading in BSE at Rs.153.1 as compared to the previous close of Rs. 151.55. The total number of shares traded during the day was 24994 in over 320 trades.

The stock hit an intraday high of Rs. 160.9 and intraday low of 152. The net turnover during the day was Rs. 3918866.

Source : Equity Bulls

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