Ruchi Soya Industries allots 1.5 crore shares on merger

Ruchi Soya Industries Ltd has announced that the Board of Directors of the Company at its meeting held on July 31, 2010, has allotted 1,50,00,000 equity shares of Rs. 2/- each of the Company to the shareholders of Mac Oil Palm Ltd. pursuant to Scheme of Amalgamation and Arrangement between Mac Oil Palm Ltd. and Ruchi Soya Industries Ltd. and their respective shareholders duly approved by the Hon'ble High Court of Bombay and implemented by the Board of Directors of the Company. Post such allotment the paid-up capital of the Company is Rs. 55.58 crores divided into 277888860 equity shares of Rs. 2/- each.

The stock was trading at Rs.108.45, up by Rs.5.45 or 5.29%. The stock hit an intraday high of Rs.109.05 and low of Rs.102.30.

The total traded quantity was 382506 compared to 2 week average of 68718.

Source : Equity Bulls

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