Strides Arcolab allots 420000 Equity Shares

Strides Arcolab Ltd has announced that the Company has allotted 420,000 fully paid equity shares of Rs. 10/- each against conversion of 420,000 warrants at a price of Rs. 91.15 per share to entity / persons belonging to the promoter group.

The allottees include Netequity Ventures Pvt. Ltd. - 400,000 shares, Mr. G. Puroshothamam Pillai - 10,000 shares and Mr. Mohana Kumar Pillai - 10,000 shares.

Consequent to the allotment, the paid up equity share capital of the Company has increased from Rs. 427,891,380 consisting of 42,789,138 equity shares of Rs. 10/- each to Rs. 432,091,380 consisting of 43,209,138 equity shares of Rs. 10/- each.

The stock closed the day at Rs.321.65, down by Rs.9.10 or 2.75%. The stock hit an intraday high of Rs.330.90 and low of Rs.318.10.

The total traded quantity was 81086 compared to 2 week average of 320953.

Source : Equity Bulls

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