Magma Fincorp allots 25260 equity shares

Magma Fincorp Ltd has announced that the Remuneration Committee of the Board of Directors of the Company vide Resolution by Circulation dated May 25, 2010 has allotted 25,260 Equity shares of Rs. 10/- each at a price of Rs. 180/- per share (including a premium of Rs. 170/- per share) to the eligible employees under Magma Employee Stock Option Plan 2007("the Scheme").

Pursuant to this allotment the issued, subscribed and paid-up equity share capital of the Company stands increased to Rs. 258,696,200/- (Rupees Twenty Five Crores Eighty Six Lacs Ninety Six Thousand and Two Hundred) consisting of 25869620 Nos (Two Crores Fifty Eight Lacs Sixty Nine Thousand Six Hundred and Twenty Nos) of Equity Shares of Rs. 10/-each.

The stock closed the day at Rs.253.50, down by Rs.14.05 or 5.25%. The stock hit an intraday high of Rs.268.90 and low of Rs.253.10.

The total traded quantity was 11936 compared to 2 week average of 38084.

Source : Equity Bulls

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