Vulcan Engineers approves allotment of 3350000 shares to Terruzzi Fercalx SpA

Vulcan Engineers Ltd has announced that the Board of Directors of the Company at its meeting held on November 25, 2009, has approved allotment of 33,50,000 Equity Shares on preferential basis to Terruzzi Fercalx SpA, having its registered office at Piazzale Principessa Clotilde, 8 zip code 20121, Milano, Italy. The Equity Shares are issued at Rs. 11.50 each including a premium of Rs. 1.50 per share subject to lock-in-period of three years from the date of allotment. The said Equity Shares will rank pari-passu in all respect with the existing Equity Shares of the Company.

The paid up Equity Share capital of the Company post allotment is 8,19,000 Equity Shares of Rs. 10.00 each aggregating to Rs. 8,19,00,000.00.

The stock was trading at Rs.28.95, up by Rs.0.20 or 0.70%. The stock hit an intraday high of Rs.30.15 and low of Rs.28.10.

The total traded quantity was 22290 compared to 2 week average of 21959.

Source : Equity Bulls

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