Pitti Engineering Ltd allots 22,22,222 shares

The Board of Directors of Pitti Engineering Ltd at their meeting held on June 24, 2019 have allotted 22,22,222 equity shares at a price of Rs. 90 per share (including a premium of Rs. 85 per share to the warrant holders - Shri Akshay S Pitti (11,11,111 shares) and Pitti Electrical Equipment Pvt Ltd (11,11,111 shares) belonging to the promoter / promoter group who have exercised their right for conversion of 22,22,222 share warrants allotted by the board of directors at their meeting held on February 14, 2018.

Consequent to the said allotment, the paid-up equity share capital of the company stands increased from Rs. 14,91,39,225 comprising 2,98,27,845 equity shares of Rs. 5 each to Rs. 16,02,50,335 comprising 3,20,50,067 equity shares of Rs. 5 each.

Shares of Pitti Engineering Ltd was last trading in BSE at Rs.47.45 as compared to the previous close of Rs. 46.4. The total number of shares traded during the day was 1842 in over 38 trades.

The stock hit an intraday high of Rs. 47.65 and intraday low of 44.15. The net turnover during the day was Rs. 85950.

Source : Equity Bulls

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