Uttam Sugar Mills allots 5 lakh 6.5% Cumulative Redeemable Preference Shares

Uttam Sugar Mills Ltd has announced that Preference Share Allotment Committee in its meeting held on December 31, 2010 have issued and allotted 5,00,000 6.5% Redeemable Cumulative Preference Shares of Rs. 100/- each for cash at par totaling amount of Rs. 5,00,00,000/- (Rupees Five Crores Only) to the entities forming part of Promoter group. Consequently, with effect from December 31, 2010, the Issued and Subscribed Preference Share Capita] of the Company stand increased to Rs. 46,60,00,000/- divided into 46,60,000 Redeemable Cumulative Preference Shares of Rs. 100/- each.

The stock closed the day at Rs.52.50, up by Rs.0.40 or 0.77%. The stock hit an intraday high of Rs.54.35 and low of Rs.52.15.

The total traded quantity was 0.16 lakhs compared to 2 week average of 0.15 lakhs.

Source : Equity Bulls

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