Bhoruka Aluminium to offer 30 lakh shares

Bhoruka Aluminium Ltd has announced that the Board of Directors of the Company at its meeting held on February 16, 2010, inter alia, has approved the offering and issue of 30,00,000 equity shares of Rs. 10/- each on preferential basis to entities other than promoters at a price of Rs. 29.50/- (including premium of Rs. 19.50/- per share) or at a price which shall not be less than the price as determined as per Chapter VII of SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2009.

The Board approved the Postal ballot process to seek approval of the members of the Company for proposed issue of shares of the Company on preferential basis.

The Board also appointed Mr. Manish L. Ghia, Practicing Company secretary, Mumbai as scrutinizer for conducting the postal ballot process in fair and transparent manner.

The stock closed the day at Rs.27. The stock hit an intraday high of Rs.28.35 and low of Rs.26.95.

The total traded quantity was 1042 compared to 2 week average of 450.

Source : Equity Bulls

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