Wockhardt allots 839903029 Preference Shares

Wockhardt Ltd has announced that pursuant to the approval of members obtained by way of postal ballot on December 24, 2009 and in terms of CDR approved package, the Company has allotted 839,903,029 Non-Convertible Redeemable Preference Shares of Rs. 5/- each and 392,838,529 Optionally Convertible Cumulative Redeemable Preference Shares of Rs. 5/- each.

The allottees of Optionally Convertible Cumulative Redeemable Preference Shares are: State Bank of India - 325,095,022, Indian Overseas Bank - 39,888,348, Punjab National Bank - 9,326,619 and HDFC Bank Ltd. - 18,528,540.

The stock was trading at Rs.142.45, up by Rs.3.75 or 2.70%. The stock hit an intraday high of Rs.144.25 and low of Rs.139.60.

The total traded quantity was 39571 compared to 2 week average of 59321.

Source : Equity Bulls

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