Rama Phosphates Ltd to consider allotment of 3011787 shares on Sep 03, 2010

Rama Phosphates Ltd has announced that the Meeting of the Allotment Committee will be held on September 03, 2010 to issue and allot 30,11,787 (Thirty Lacs Eleven Thousand Seven Hundred Eighty Seven) Equity Shares of Rs. 10/- each for cash at a Premium of Rs. 20/- per share aggregating to Rs. 9,03,53,610/- (Rupees Nine Crores Three Lacs Fifty Three Thousand Six Hundred Ten Only) to the Promoters and Associates of the Company pursuant to the Debt Rehabilitation Scheme sanctioned by Hon'ble BIFR.

Further the Company has informed that, the above allotment is out of 1,21,36,190 Equity Shares of Rs. 10/- each at Premium of Rs. 20/- per share pursuant to the Debt Rehabilitation Scheme sanctioned by Hon'ble BIFR.

The stock closed the day at Rs.82.70, up by Rs.3.90 or 4.95%. The stock hit an intraday high of Rs.82.70 and low of Rs.79.

The total traded quantity was 232685 compared to 2 week average of 187659.

Source : Equity Bulls

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