Amtek Auto allots 16600000 shares

The allotment Committee of Board of Directors of Amtek Auto Ltd in their meeting held on June 27, 2011 has allotted 1,66,00,000 (One Crores Sixty Eight Lacs ) Equity Shares upon conversion of Warrants into equivalent number of equity shares of Rs. 2/- each at a premium of Rs. 178/- aggregating to Rs. 302.40 Crores to the Promoters group Companies by way of preferential allotment.

Further the Convertible Warrants issued by the Company are exercised by the allottes within the currency period of warrants which were allotted on July 20, 2010 in terms of Chapter VII of the SEBI (Issue of Capital & Disclosure Requirements) Regulations, 2009.

The stock closed the day at Rs.159.85, down by Rs.1.65 or 1.02%. The stock hit an intraday high of Rs.163 and low of Rs.158.

The total traded quantity was 0.69 lakhs compared to 2 week average of 1.37 lakhs.

Source : Equity Bulls

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