Steel Strips Wheels allots 377000 shares

Steel Strips Wheels Ltd has announced that the Allotment Committee of the Board of Directors of the Company in its meeting held on January 12, 2011 have allotted 3,77,000 equity shares of Rs. 10/- each fully paid up, at a price of Rs. 595/- per shares (i.e. at a premium of Rs. 585/- per share) to GS Global Corp., on preferential allotment basis. The said 3,77,000 shares constitutes 2.54% of the total enhanced paid up capital of the Company.

The paid up capital of the Company, now stand increased from Rs. 14,46,61,700 to 14,84,31,700 comprising of 1,48,43,170 equity Shares of Rs. 10/- each.

The stock closed the day at Rs.314.75, up by Rs.11.05 or 3.64%. The stock hit an intraday high of Rs.318 and low of Rs.301.20.

The total traded quantity was 0.12 lakhs compared to 2 week average of 0.17 lakhs.

Source : Equity Bulls

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