Nicco Corporation allots 3656307 shares under CDR

Nicco Corporation Ltd has announced that pursuant to approval of the Shareholders and in accordance with the Corporate Debt Restructuring (CDR) Package as approved by the CDR Cell set up by the Reserve Bank of India, the Committee of Directors of the Company has allotted 36,56,307 Equity Shares of the Company of a Nominal Value of Rs. 2/- each of the Company @ of Rs. 5.47 per Equity Share, as per Stock Prices with reference to the Relevant Date, as per SEBI Preferential Issue Guidelines (comprising par value of Rs. 2/- per Equity Share and a Premium of Rs. 3.47 per Equity Share) on December 30, 2009, aggregating to Rs. 2.00 crores, to Nicco Restructuring Employees' Trust Fund ("NRETF").

The stock was trading at Rs.6, up by Rs.0.09 or 1.52%. The stock hit an intraday high of Rs.6.49 and low of Rs.5.80.

The total traded quantity was 104776 compared to 2 week average of 82815.

Source : Equity Bulls

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