Hotel Leelaventure allots 1 crore Equity Shares

Hotel Leelaventure Ltd has announced that subsequent to the approval accorded by the Shareholders of the Company under Section 81(1A) and other applicable provisions of the Companies Act, 1956, pursuant to Chapter VII of SEBI (ICDR) Regulations, 2009, Memorandum & Articles of Association of the Company and pursuant to prior in-principle approvals received from the Stock Exchanges to issue and allot equity shares on preferential basis, the Committee of Directors of the Board of the Company for Issues at their meeting held on August 30, 2010, issued and allotted to Leela Lace Software Solutions Pvt. Ltd, a promoter group Company 1,00,00,000 (one crore) fully paid up Equity Shares of Rs. 2/- each, at a price of Rs. 48.50 per Equity Share (including premium of Rs. 46.50 per Equity Share) aggregating to Rs. 48,50,00,000/- (Rupees forty eight crores fifty lacs only).

The aforesaid equity shares shall rank pari-passu in all resects with the existing equity shares of the Company and will be locked-in as per the SEBI ICDR Regulations.

With the aforesaid allotment, the paid up share capital of the Company stands increased from Rs. 75,56,49,984/- divided into 37,78,24,992 Equity Shares of the face value of Rs. 2/-each to Rs. 77,56,49,984/- dividend into 38,78,24,992 Equity Shares of the face value Rs. 2/-each.

The stock was trading at Rs.51.70, up by Rs.1.50 or 2.99%. The stock hit an intraday high of Rs.52.30 and low of Rs.50.45.

The total traded quantity was 646861 compared to 2 week average of 250655.

Source : Equity Bulls

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