Indo Zinc allots 1 million NCCRPS

The Committee of Board of Directors of Indo Zinc Ltd at its meeting held on March 14, 2011, has approved the allotment of 10,00,000 - 9% Non-Convertible Cumulative Redeemable Preference Shares of Rs. 100/- each fully paid-up at par, amounting to Rs. 10 crores in favour of The India Cements Ltd on preferential basis.

Consequently, the Paid-up Share Capital of the Company has gone up from Rs. 4.48 crores (consisting of 44,75,600 equity shares of Rs. 10/- each) to Rs. 14.48 crores (consisting of 44,75,600 equity shares of Rs. 10/- each and 10,00,000 - 9% Non-convertible Cumulative Redeemable Preference Shares of Rs. 100/- each).

The stock closed the day at Rs.26.50, up by Rs.1.25 or 4.95%. The stock hit an intraday high of Rs.26.50 and low of Rs.26.50.

The total traded quantity was 600 compared to 2 week average of 550.

Source : Equity Bulls

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