Promax Power Limited approves allotment of shares

The Board of Directors of Promax Power Limited has approved the allotment of 1,00,000 equity shares of Rs. 10 each of the Company, at a price of Rs. 24 per share (including share premium of Rs. 14 per share), on Preferential basis, to Ms. Gayatri N Shah (Non Promoter) for consideration of Rs.24,00,000 and the allotment of 7,00,000 equity shares of Rs. 10 each of the Company, at a price of Rs. 24 per share (including share premium of Rs. 14 per share) to M/s Invezy Ventures Pvt Ltd, one of the Promoter of the Company, for consideration other than cash.

Shares of Promax Power Ltd was last trading in BSE at Rs. 27.45 as compared to the previous close of Rs. 27.60. The total number of shares traded during the day was 35000 in over 7 trades.

The stock hit an intraday high of Rs. 29.75 and intraday low of 24.15. The net turnover during the day was Rs. 938000.00.

Source : Equity Bulls

Keywords

PromaxPower INE0I2F01015 Construction Engineering PreferentialAllotment FundRaising