Piramal Enterprises Ltd allots shares on conversion of CCDs

The Administrative Committee of the Board of Directors of Piramal Enterprises Ltd has, at its meeting held today, i.e. 14th March, 2019 approved the allotment of 4,04,480 Equity shares of face value of Rs. 2 each at a conversion premium of Rs.2,688 per share pursuant to optional conversion of 10,112 CCDs of face value of Rs.1,07,600 each aggregating to Rs. 1,08,80,51,200. These Equity shares are proposed to be listed on BSE Limited and National Stock Exchange of India Limited. The Committee also approved payment of pro-rata interest to these CCD holders in accordance with the Placement Document dated 17th October, 2017.

Pursuant to the aforesaid allotment the paid up share capital of the Company stands increased from 18,40,40,178 equity shares of Rs.2 each amounting to Rs. 36,80,80,356 to 18,44,44,658 equity shares of Rs.2 each amounting to Rs. 36,88,89,316.

Shares of PIRAMAL ENTERPRISES LTD. was last trading in BSE at Rs.2598.05 as compared to the previous close of Rs. 2637. The total number of shares traded during the day was 26956 in over 1714 trades.

The stock hit an intraday high of Rs. 2648.9 and intraday low of 2583. The net turnover during the day was Rs. 70175923.

Source : Equity Bulls

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