Lumax Auto Technologies allots 2 million shares

Lumax Auto Technologies Ltd has announced that, pursuant to approval of Shareholders, under Section 81 (1A) of the Companies Act, 1956 for issuance of the shares on preferential basis, in their Annaul General Meeting held on July 26, 2010, the Board of Directors of the Company at its meeting held on August 10, 2010, has considered and approved the allotment of 20,00,000 (Twenty Lacs only) equity shares of Rs. 10/- each at a price of Rs. 119.10 per share on Preferential basis by Private Placement to the Promoter and Non-Promoter entities.

The allottees include Dhanesh Kumar Jain As a Karta of D J Jain & Sons (HUF) (Promoter Category) - 35,000 shares, Deepak Jain (Promoter Category) - 1,20,000 shares, Anmol Jain (Promoter Category) - 75,000 shares, Shivani Jain (Promoter Category) - 45,000 shares, Sheela Finance Pvt Ltd (Promoter Category) - 4,00,000 shares, Orange Mauritius Investments Ltd (Non-Promoter Category) - 6,75,000 shares and Asia Investment Corporation (Mauritius) Ltd (Non-Promoter Category) - 6,50,000 shares.

The stock was trading at Rs.164.95, down by Rs.3.55 or 2.11%. The stock hit an intraday high of Rs.171.90 and low of Rs.163.

The total traded quantity was 14696 compared to 2 week average of 63397.

Source : Equity Bulls

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