Kdl Biotech to allot 7272727 shares at Rs 12

Kdl Biotech Ltd has announced that the Board of Directors of the Company at its meeting held on July 26, 2008, inter alia, has approved issue and allotment of 72,72,727 (Seventy Two Lakhs Seventy Two Thousand Seven Hundred and Twenty Seven) equity shares of the Company on a preferential allotment basis to Unimark Remedies Ltd at a price of Rs 12/- per equity share.

The approval of members will be sought through a postal ballot and Mr. S N Ananthasubramanian, Practising Company Secretary has been appointed as the Scrutinizer for the postal ballot.

The Stock closed on Friday at Rs.11.34, up by Rs.1.89 or 20%. The stock hit an intraday high of Rs.11.34 and low of Rs.9.40.

The total traded quantity was 1763161 compared to 2 week average of 178783.

Source : Equity Bulls

Keywords