WS Industries allots 3.5 lakh NCCRPS

WS Industries India Ltd has announced that the Board of Directors at its Meeting held on January 28, 2009 approved the issue of 3,50,000 Non - Convertible Cumulative Redeemable Preference Shares of Rs 100/- each to M/s. Vensunar Pvt. Ltd, one of the Promoters of the Company, by way of private placement pursuant to the approval of the shareholders at the Extra Ordinary General Meeting held on January 23, 2008.

The entire subscription amount of Rs 3,50,00,000/- has since been received from M/s. Vensunar Pvt. Ltd and accordingly the Share Allotment Committee at its Meeting held on July 13, 2009 allotted 3,50,000 Non - Convertible Cumulative Redeemable Preference Shares of Rs 100/- each with a coupon rate of 10% p.a. to the said Promoter.

The said Preference Shares are redeemable on or before February 28, 2013.

The stock closed on Friday at Rs.42, up by Rs.0.05 or 0.12%. The stock hit an intraday high of Rs.43.75 and low of Rs.40.10.

The total traded quantity was 1593 as compared to 2 week average of 2749.

Source : Equity Bulls

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