Amtek Auto allots 76 lakh shares

Amtek Auto Ltd has announced that Allotment Committee of Board of Directors of the Company in their meeting held on November 05, 2009 has allotted 76,00,000 Equity Shares upon conversion of warrants into equivalent number of equity shares of Rs. 2/- each at a premium of Rs. 131/- aggregating to Rs. 101.08 Crores to the promoters group Companies by way of preferential allotment.

Further the Convertible warrants issued by the company are fully exercised by the allottes within the currency period of warrants which were allotted on July 08, 2009 in terms of Chapter XIII of the SEBI (Disclosure & Investor Protection) Guidelines, 2000.

The stock closed the day at Rs.173.90, down by Rs.3.25 or 1.83%. The stock hit an intraday high of Rs.179.30 and low of Rs.170.05.

The total traded quantity was 165515 compared to 2 week average of 220951.

Source : Equity Bulls

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