Motilal Oswal allots 989066 Equity Shares on Preferential Basis

Motilal Oswal Financial Services Ltd has announced that pursuant to the approval of the members obtained at the 4th Annual General Meeting of the Company held on August 01, 2009, a Committee of the Board of Directors of the Company at its Meeting held on August 14, 2009, has allotted 9,89,066 equity shares of the face value of Re 1 each at the rate of Rs 138.74 per share to certain employees of Motilal Oswal Investment Advisors Pvt. Ltd (MOIAPL), a subsidiary of the Company, in discharge of the purchase consideration for acquisition of 62,500 equity shares of Rs 10 each of MOIAPL acquired by the Company from them.

Consequently, the paid-up share capital of the Company stands increased from Rs 14,20,25,000 divided into 14,20,25,000 equity shares of Re 1 each to Rs 14,30,14,066 divided into 14,30,14,066 equity shares of Re 1 each.

The stock closed the day at Rs.151.15, down by Rs.2.50 or 1.63%. The stock hit an intraday high of Rs.159 and low of Rs.149.15.

The total traded quantity was 39423 compared to 2 week average of 60896.

Source : Equity Bulls

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