Rohit Pulp & Paper Mills withdraws proposed Preferential Allotment

Rohit Pulp & Paper Mills Ltd has announced about the withdrawal of the proposed allotment of 5,93,755 equity shares on preferential basis to the promoters of the Company. As SEBI has not granted exemption to the Acquirer, they had preferred not to proceed further.

As the above said Allotment is withdrawn, the promoters are going ahead to remove the Lock-in (NSDL) incorporated by them earlier as per the prevailing Regulations governing the Pref. Allotment.

The stock was trading at Rs.35.40, down by Rs.1.65 or 4.45%. The stock hit an intraday high of Rs.37 and low of Rs.35.25.

The total traded quantity was 1056 compared to 2 week average of 3193.

Source : Equity Bulls

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