Tilaknagar Industries allots 11450136 shares

Tilaknagar Industries Ltd has announced that the Board of Directors of the Company vide its Circular Resolution dated September 03, 2009 has allotted 1,14,50,136 Equity Shares of Rs 10/- each in the ratio of 2 Equity Shares for every one share to the holders of 57,25,068 Equity Shares whose name appears in the Register of Members as on September 03, 2009.

Further the Company has announced that Bonus Shares in the ratio of 2:1 has been kept in reserve for the 43,70,000 Equity Shares allotted to the Promoters on August 14, 2009 against conversion of equivalent number of Compulsorily Convertible Preference Shares (CCPS) and Convertible Warrants and same will be allotted to them after receipt of necessary statutory approvals in this regard.

The stock was trading at Rs.84.15, up by Rs.4 or 4.99%. The stock hit an intraday high of Rs.84.15 and low of Rs.82.55.

The total traded quantity was 12409 compared to 2 week average of 26335.

Source : Equity Bulls

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