RHI Magnesita Ltd allots 2.70 crore shares

Pursuant to the approval received from members of the Company and in-principle approval received from BSE Limited and National Stock Exchange of India Limited, the Board of Directors of RHI Magnesita Ltd in their meeting held today i.e. 5 January 2023 have approved the allotment of 2,70,00,000 (Two Crore Seventy Lakhs} equity shares at an issue price of INR 632.5029/- per share to Dalmia Bharat Refractories Limited ("DBRL") for consideration other than cash in exchange of 8,24,83,642 (Eigth Crore Twenty Four Lakhs Eighty Three Thousand Six Hundred and Forty Two) equity shares of Dalmia OCL Limited ("DOCL") representing 100% equity share capital of DOCL, from DBRL, by virtue of which DOCL shall become a wholly owned subsidiary of the Company.

Consequent to the aforementioned allotment, the issued, subscribed and paid-up equity share capital of the Company shall be increased to INR 18,79,96,331/- consisting of 18,79,96,331 Equity shares of INR 1/- each.

Shares of RHI Magnesita Limited was last trading in BSE at Rs. 877.15 as compared to the previous close of Rs. 869.15. The total number of shares traded during the day was 28415 in over 1752 trades.

The stock hit an intraday high of Rs. 883.70 and intraday low of 865.55. The net turnover during the day was Rs. 24802693.00.

Source : Equity Bulls

Keywords

RHIMagnesita INE743M01012 Merger SharesAllotment