Saregama India allots 2727000 Equity Shares

Saregama India Ltd has announced that in terms of the Special Resolution approved by the shareholders of the Company under Section 81(1A) of the Companies Act, 1956 by way of Postal Ballot, the Board of Directors at its meeting held on September 11, 2009, has allotted 27,27,000 Equity shares at a price of Rs. 102.47 per share including premium of Rs. 92.47 per share.

The allottees are Adom Investments Ltd. (Promoter): 13,50,000 Equity shares issued and allotted, Hilltop Holdings India Ltd. (Promoter): 2,00,000 Equity shares issued and allotted, Gyan Traders Ltd. (Non-Promoter): 4,50,000 Equity shares issued and allotted and Progressive Star Holdings & Consultants Pvt. Ltd. (Non-Promoter): 7,27,000 Equity shares issued and allotted.

The stock was trading at Rs.73.50, down by Rs.1 or 1.34%. The stock hit an intraday high of Rs.76.55 and low of Rs.71.45.

The total traded quantity was 5765 compared to 2 week average of 33374.

Source : Equity Bulls

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