Sirpur Paper Mills to allot 877869 shares to Aravali Securities

Sirpur Paper Mills Ltd has announced that a meeting of the Committee of directors (Preferential Issue Allotment Committee) will be held on May 28, 2010 for making allotment of 8,77,869 Ordinary Shares of Rs. 10/- each at an issue price of Rs. 57/- per ordinary share aggregating to Rs. 5,00,38,533/- to M/s. Aravali Securities & Finance Ltd., a promoter of the Company on preferential basis as per SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2009.

The Sirpur Paper Mills stock was trading at Rs.48, up by Rs.0.50 or 1.05%. The stock hit an intraday high of Rs.48.50 and low of Rs.46.60.

The total traded quantity was 4779 compared to 2 week average of 4760.

Source : Equity Bulls

Keywords