Mafatlal Industries allots 4813860 Equity Shares

Mafatlal Industries Ltd has announced that the Board of Directors of the Company at its meeting held on November 12, 2009, inter alia, have allotted 4813860 equity shares of Rs. 10/-each on conversion of 30000000 Optionally Convertible Non-Cumulative Preference Shares (OCCPS) of Rs. 10/- each held by the promoters pursuant to Modified Rehabilitation Scheme sanctioned by BIFR vide its order dated 24/25th June, 2009, at the conversion price of Rs. 62.32/- per equity share of Rs. 10/- each at a premium of Rs. 52.32 per share, computed in terms of provisions of the said Modified Rehabilitation Scheme.

Shri Hrishikesh A. Mafatlal Held 5000000 OCCPS and 802310 Equity Shares were allotted on conversion, Smt. Rekha H. Mafatlal held 5000000 OCCPS and 802310 Equity Shares were allotted on conversion, Shri Priyavrata H. Mafatlal held 5000000 OCCPS and 802310 Equity Shares were allotted on conversion, Shri Vishad P. Mafatlal held 7500000 OCCPS and 1203465 Equity Shares allotted on conversion and Smt. Rupal V. Mafatlal held 7500000 OCCPS and 1203465 Equity Shares were allotted on conversion.

The stock closed the day at Rs.66.85, up by Rs.0.35 or 0.53%. The stock hit an intraday high of Rs.67.20 and low of Rs.63.35.

The total traded quantity was 5494 compared to 2 week average of 4133.

Source : Equity Bulls

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