Greenply Industries allots 2039694 Equity Shares

The Right Issue Committee of the Board of Directors of Greenply Industries Ltd at its meeting held on March 24, 2011, has allotted 20,39,694 equity shares of Rs. 5/ each at a premium of Rs. 137/- per equity share to the eligible detachable warrant holders on account of conversion of 20,39,694 detachable warrants issued and allotted on October 16, 2009 pursuant to the Letter of Offer dated September 14, 2009.

Accordingly the paid-up equity share capital of the Company has been increased from Rs. 11,04,83,400/- (2,20,96,680 equity shares of Rs. 5/- each) to Rs. 12,06,81,870/- (2,41,36,374 equity shares of Rs. 5/- each). The equity shares allotted as above will rank pari passu in all respects with the existing equity shares of the Company.

The stock was trading at Rs.195.90, up by Rs.2.60 or 1.35%. The stock hit an intraday high of Rs.196 and low of Rs.195.

The total traded quantity was 536 compared to 2 week average of 8353.

Source : Equity Bulls

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