Nectar Lifesciences allots 46000000 equity shares underlying GDRs

Nectar Lifesciences Ltd has announced that the Global Depository Receipts (GDRs) issue has been fully subscribed and Board of Directors of the Company at their Meeting held on February 26, 2010, have allotted 46,000,000 equity shares of Re. 1/- each underlying 46,000,000 Global Depository Receipts (GDRs) of US$ 0.76 each. The total proceeds from the issue are US$ 34.96 Million.

After the allotment of underlying equity shares, the paid up equity capital of the Company stands increased from Rs. 178,260,970/- to Rs. 224,260,970/- comprising of 224,260,970 equity shares of Re. 1/- each.

The stock was trading at Rs.36.60, up by Rs.2.20 or 6.40%. The stock hit an intraday high of Rs.40 and low of Rs.35.10.

The total traded quantity was 304459 compared to 2 week average of 80664.

Source : Equity Bulls

Keywords