Mahindra Lifespace Developers allots 25000 Equity Shares under ESOS

Mahindra Lifespace Developers Ltd has announced that the Share Allotment Committee of the Board vide resolution passed by circulation dated May 07, 2010 have issued and allotted 25000 new fully paid-up Equity Shares of Rs. 10/- each to the Eligible Employees / Directors on the exercise of Options granted under Employee Stock Options Scheme 2006 (ESOS -2006), at an exercise price of Rs. 428/- per share.

Pursuant to this allotment, the issued equity capital of the Company has increased from Rs. 40,85,45,010 to Rs. 40,87,95,010, and subscribed & paid up equity capital of the Company has increased from Rs. 40,80,91,500 to Rs. 40,83,41,500 and Share Premium Account has gone up from Rs. 67556.11 lakh to Rs. 67660.61 lakh.

The equity shares allotted as above shall, rank pari-passu with the existing equity shares of the Company and shall be entitled to such dividends and corporate benefits, if any, declared by the Company after the allotment.

The stock was trading at Rs.467, up by Rs.16.85 or 3.74%. The stock hit an intraday high of Rs.476.20 and low of Rs.448.

The total traded quantity was 37173 compared to 2 week average of 9332.

Source : Equity Bulls

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