Valecha Engineering allots 531000 shares

Valecha Engineering Ltd has announced that, pursuant to the resolution passed by the members at the Extra Ordinary General Meeting held on May 30, 2009, for which the in-principal approval was received, the Board of Directors at their meeting held on October 04, 2010, has allotted 5,31,000 equity shares of Rs. 10/- each, on conversion of 5,31,000 warrants which have been fully paid up.

The shares have been allotted to allottees from whom the balance issue price of the warrants is received. The allottees include Ms. Roop Ramachandran : 25, 000 No. of shares, M/s Satellite Inter Continental Pvt Ltd. : 1,30,000 No. of shares and M/s Valecha Investment Pvt Ltd : 3,76,000 No. of shares.

The stock was trading at Rs.194.70, up by Rs.10.45 or 5.67%. The stock hit an intraday high of Rs.196.40 and low of Rs.184.05.

The total traded quantity was 5.96 lakhs compared to 2 week average of 1.44 lakhs.

Source : Equity Bulls

Keywords