Gujarat NRE Coke allots 100044 Equity Shares

Gujarat NRE Coke Ltd has announced that the Committee of the Board of Directors of the Company at its meeting held on August 12, 2010 has allotted 1,00,044 Equity Shares of Rs. 10/- each at a premium of Rs. 34.64 per share and 10,004 "B" Equity Shares of Rs. 10/- each pursuant to Conversion Notice (s) received from the holder(s) of FCCBs for conversion of 1 (One) -Zero Coupon FCCB issued in 2006.

Further, the Committee has also allotted 19,370 Equity Shares of Rs. 10/- each at a premium of Rs. 13.86 per share and 1,937 "B" Equity Shares of Rs. 10/- each pursuant to Exercise letter(s) received from the option holder(s) for conversion of options held by them under Employee Stock Option Scheme, 2005.

Consequently, the Paid-up Capital of the Company has increased from Rs. 552,72,08,660/- to Rs. 552,85,22,210/- comprising of 50,25,92,929 Equity Shares of Rs. 10/- each and 5,02,59,292 "B" Equity Shares of Rs, 10/- each.

The stock closed the day at Rs.59, down by Rs.0.75 or 1.26%. The stock hit an intraday high of Rs.59.80 and low of Rs.58.55.

The total traded quantity was 4.35 lakhs compared to 2 week average of 4.56 lakhs.

Source : Equity Bulls

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