Autoline Industries allots 1080000 warrants, 1250000 shares

Autoline Industries Ltd has announced that the Share Allotment Committee meeting of the Board of Directors at its meeting held on June 17, 2008 has allotted 10,80,000 warrants, convertible into Equity shares at a price of Rs 250/- per share (including premium of Rs 240/- per share) to the Promoters and other Investors.

Citadel Advisors FZE, UAE - Foreign Company - 2,70,000 Warrants, Mr. Gopal Patwardhan - Executive Chairman - 2,70,000 Warrants, Mr. Shivaji Akhade - Promoter & Managing Director - 1,35,000 Warrants, Mr. Sudhir Mungase - Promoter & Executive Director- 1,35,000 Warrants, Mrs. Rema Radhakrishnan - Promoter - 1,35,000 Warrants and Mr. Vilas Lande - Promoter - 1,35,000 Warrants.

The company also allotted 12,50,000 equity shares at Rs 235/- per share (including a premium of Rs 225/- per share) to non-promoters.

Mr. Rakesh Jhunjhunwala - (public) - 5,00,000 Equity shares, Mrs. Rekha Jhunjhunwala - (public) - 5,00,000 Equity shares, Mr. Utpal Sheth - (public) - 1,25,000 equity shares and Mr. Amit Goela - (public) 1,25,000 equity shares.

The stock was trading at Rs.250.25, down by Rs.6.65 or 2.59%. The stock hit an intraday high of Rs.250.25 and low of Rs.250.25.

The total traded quantity was 100 compared to 2 week average of 15081.

Source : Equity Bulls

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