Kolte Patil allots 151283 shares

Kolte-Patil Developers Ltd has announced that the Board of Directors of the Company at its meeting held on May 28, 2010, inter alia, has approved the allotment of 1,51,283 Equity Shares of the face value of Rs. 10/- each at an exercise price of Rs. 40/- per equity shares, against exercise of Employee Stock Options granted under Employees Stock Options Scheme, 2006. Consequent to the above-mentioned allotment of Equity Shares, the Paid up Capital is increased from Rs. 754,812,540/- to Rs. 75,63,25,370/-.

The Board approved Employee Stock Option Scheme 2010 subject to the approval of shareholders at the ensuing Annual General Meeting.

The Annual General Meeting of the Company will be held on July 31, 2010.

The stock closed the day at Rs.58.40, up by Rs.1.55 or 2.73%. The stock hit an intraday high of Rs.59.70 and low of Rs.56.

The total traded quantity was 430979 compared to 2 week average of 387337.

Source : Equity Bulls

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