Suryavanshi Spinning to allot 19.50 lakh shares to Westend Developers Ltd

Suryavanshi Spinning Mills Ltd has announced that the Board of Directors at their meeting held on October 15, 2009 have constituted Share Allotment Committee consisting of Sarvasri Dr. Akkineni Nageswara Rao, Director, Sri. R. K. Agarwal, Joint Managing Director and Sri. J. K. Agarwal, Executive Director as members of the Share Allotment Committee to allot 19,50,000 Equity Shares of Rs. 10/- each at a price of Rs. 15/- (including premium of Rs. 5/- per share) on preferential basis to non-promoters M/s. Westend Developers Ltd.

The Share Allotment Committee at its Meeting held on November 18, 2009 has allotted 19,50,000 Equity Shares of Rs. 10/- each at a price of Rs. 15/- (including premium of Rs. 5/- per share) on preferential basis to non-promoters WESTEND DEVELOPERS LTD.

The stock was trading at Rs.13.50, up by Rs.0.75 or 5.88%. The stock hit an intraday high of Rs.13.60 and low of Rs.13.05.

The total traded quantity was 2885 compared to 2 week average of 5071.

Source : Equity Bulls

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