Indiabulls Power allots 10 lakhs Equity Shares

Indiabulls Power Ltd has announced that upon exercise by certain eligible employees, of the stock options vested in them in terms of an employee stock option scheme of the Company titled-'SPCL-IPSL Employees Stock Option Plan 2008' and receipt by the Company, of full consideration therefor, pursuant to such exercise, the Compensation Committee of the Board of Directors of the Company at its meeting held on December 15, 2010, has allotted an aggregate of 10,00,000 (Ten lac) Equity shares of face value Rs. 10/- each, to such employees.

Consequent to the said allotment, the paid-up Equity share capital of the Company stands increased from Rs. 2021,71,07,460/- divided into 202,17,10,746 Equity shares of face value Rs. 10/- each to Rs 2022,71,07,460/- divided into 202,27,10,746 Equity shares of face value Rs. 10/- each.

The stock closed the day at Rs.26.85, down by Rs.0.45 or 1.65%. The stock hit an intraday high of Rs.27.55 and low of Rs.26.70.

The total traded quantity was 0.99 lakhs compared to 2 week average of 14.97 lakhs.

Source : Equity Bulls

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