Steel Strips Wheels allots 550000 shares

Steel Strips Wheels Ltd has announced that the Board of Directors of the Company at its meeting held on September 21, 2009, inter alia, have allotted 5,50,000 Equity Shares of Rs 10/- each to Sh. Dbeeraj Garg at a Price of Rs 100/- each (i.e. at a premium of Rs 90/- per shares), subject to the approval of Shareholders and other Statutory Authorities. Sh. Dheeraj Garg is Managing Director and belongs to the Promoter Category of the Company.

After the issue of Proposed equity Shares, the Paid up Capital of the Company shall increased from Rs 13,06,61,700/- divided into 1,30,66,170 equity shares of Rs 10/- each to 13,61,61,700/- ,divided into, 136,16,170 equity shares of Rs 10/- each.

The stock was trading at Rs.74.35, up by Rs.1 or 1.36%. The stock hit an intraday high of Rs.74.50 and low of Rs.73.20.

The total traded quantity was 7293 compared to 2 week average of 44105.

Source : Equity Bulls

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