Grauer & Weil allots 9882850 Equity Shares

Grauer & Weil India Ltd has announced that in furtherance to the communication of fixing the Record date of October 09, 2009 for determining the shareholders of Bombay Paints Ltd. (BPL) eligible for receiving shares of the Company, in pursuance to the orders of the BIFR, the Shareholders Committee of the Board of Directors in their meeting held on October 21, 2009 have allotted 98,82,850 Equity Shares of Rs. 10/- each in Grauer & Well (India.) Ltd. to the members of Bombay Paints Ltd. as on the record date of October 09, 2009.

These shares shall rank Pari Passu with the existing shares of the Company in all respects. This allotment is made in pursuance to the orders passed by the Hon'ble Board for Industrial and Financial Reconstruction (BIFR) dated July 24, 2009 and September 11, 2009.

The stock closed the day at Rs.61.90, down by Rs.1.80 or 2.83%. The stock hit an intraday high of Rs.65 and low of Rs.61.55.

The total traded quantity was 7525 compared to 2 week average of 20869.

Source : Equity Bulls

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