Indian Metals & Ferro Alloys allots 1250000 shares at Rs 387

Indian Metals & Ferro Alloys Ltd has announced that the Allotment Committee at its meeting held on January 05, 2010 have allotted 12,50,000 equity shares of Rs. 10/- each for cash at Rs. 387/- per share amounting to Rs. 48,37,50,000/- to Reliance Capital Trustee Company Ltd A/C. Reliance Equity Opportunity Fund. Consequently, with effect from January 05, 2010, the issued and paid up equity share capital of the Company stands increased to Rs. 26,32,65,190/- divided into 2,63,26,519equity shares of Rs. 10/- each.

The stock closed the day at Rs.598.05, up by Rs.28.45 or 4.99%. The stock hit an intraday high of Rs.598.05 and low of Rs.576.

The total traded quantity was 50653 compared to 2 week average of 16840.

Source : Equity Bulls

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