Magma Fincorp allots 425450 Equity Shares

Magma Fincorp Ltd has announced that the Nomination and Remuneration Committee of the Board of Directors of the Company vide Resolution passed by Circulation on November 19, 2010 has allotted 425450 Nos. Equity Shares of Rs. 2/- each at a price of Rs. 36/-per share (including a premium of Rs. 34/- per share) to the eligible employees under Magma Employee Stock Option Plan 2007 ("the Scheme")

Pursuant to this allotment the issued, subscribed and paid-up equity share capital of the Company stands increased to Rs. 25,95,47,100/- (Rupees Twenty Five Crores Ninety Five Lacs Forty Seven Thousand One Hundred only) consisting of 129773550 Nos. (Twelve Crore Ninety Seven Lacs Seventy Three Thousand Five Hundred and Fifty) of Equity Shares of Rs. 2/- each.

The stock closed the day at Rs.79.90, down by Rs.1.30 or 1.60%. The stock hit an intraday high of Rs.82.50 and low of Rs.78.10.

The total traded quantity was 1.18 lakhs compared to 2 week average of 3.28 lakhs.

Source : Equity Bulls

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