Steel Strips Wheels allots 550000 shares to Dheeraj Garg

Steel Strips Wheels Ltd has announced that the Allotment Committee of the Board of Directors of the Company at its meeting held on April 06, 2010, have allotted 5,50,000 equity shares of Rs. 10/- each fully paid up, at a price of Rs. 105/- per shares (i.e. at a premium of Rs. 95/- per share) to Sh. Dheeraj Garg on preferential allotment basis. Sh. Dheeraj Garg is a Managing Director and belongs to Promoter category of the Company.

The paid up capital of the Company, now stands increased from Rs. 13,06,61,700 to 13,61,61,700 comprising of 1,36,16,170 equity Shares of Rs. 10/- each.

The stock was trading at Rs.147.15, down by Rs.4.80 or 3.16%. The stock hit an intraday high of Rs.161.90 and low of Rs.146.25.

The total traded quantity was 84280 compared to 2 week average of 38543.

Source : Equity Bulls

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