Sintex Plastics Technology Ltd allots 1.65 crore shares at Rs. 90

The Preferential Allotment Committee of the Board of Directors of Sintex Plastics Technology Ltd at its meeting held today i.e. August 29, 2018 has allotted 1,65,00,000 Equity shares of face value Re. 1/- each (with a premium of Rs. 89/- per equity share) to M/s. Star Line Leasing Limited, company belonging to promoter group of the Company, upon exercise/conversion of equivalent number of warrants, which were allotted pursuant to and in terms of shareholders' approval dated March 10, 2018.

With the said allotment of 1,65,00,000 Equity Shares of Re. 1/- each of the Company as aforesaid, the paid up equity share capital of the Company as on August 29, 2018 stands increased from Rs. 61,45,28,422/- to Rs. 63,10,28,422/- divided into 63,10,28,422 Equity shares of Re. 1/- each. The shareholding of the Promoters and Promoter Group has increased to 33.74 % of the total paid up share capital of the Company, post allotment of said equity shares of the Company.

Shares of Sintex Plastics Technology Ltd was last trading in BSE at Rs.37.25 as compared to the previous close of Rs. 37.5. The total number of shares traded during the day was 132038 in over 713 trades.

The stock hit an intraday high of Rs. 38.2 and intraday low of 37. The net turnover during the day was Rs. 4962020.

Source : Equity Bulls

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