Sah Petroleums allots 12000000 equity shares to NAF India Holdings Ltd

Sah Petroleums Ltd has announced that the Board of Directors of the Company has approved the allotment of 1,20,00,000 equity shares of the face value of Rs 5/- each to the NAF India Holdings Ltd, Mauritius, in the category of promoters group on a preferential basis for cash at a price of Rs 26.65 including a premium of Rs 21.65 at their Board Meeting held on November 29, 2008.

With the above allotment the paid up equity share capital of the Company will be enhanced from Rs 16,00,00,000 divided into 3,20,00,000 equity shares of Rs 5/- each to Rs 22,00,00,000 divided into 4,40,00,000 equity shares of Rs 5/- each.

The stock was trading at Rs.34.45, up by Rs.0.40 or 1.17%. The stock hit an intraday high of Rs.34.50 and low of Rs.32.50.

The total traded quantity was 8658 compared to 2 week average of 52797.

Source : Equity Bulls

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