Magma Fincorp allots 49854375 Equity Shares

The Board of Directors of Magma Fincorp Ltd vide Resolution passed by Circulation on June 30, 2011 have allotted 4,98,54,375 Equity Shares of the face value of Rs. 2/- each at a price of Rs. 88/- per share (including a premium of Rs. 86/- per share) to International Finance Corporation (2,30,00,000 equity shares) and Zend Mauritius VC Investments, Ltd (2,68,54,375 equity shares).

Pursuant to this allotment the issued, subscribed and paid-up equity share capital of the Company stands increased to Rs. 35,92,55,850/- (Rupees Thirty Five Crores Ninety Two Lacs Fifty Five Thousand Eight Hundred and Fifty only) consisting of 17,96,27,925 Nos (Seventeen Crores Ninety Six Lacs Twenty Seven Thousand Nine Hundred and Twenty Five) of Equity Shares of Rs. 2/ - each.

The stock closed the day at Rs.73, down by Rs.0.90 or 1.22%. The stock hit an intraday high of Rs.74 and low of Rs.72.25.

The total traded quantity was 5300 compared to 2 week average of 32668.

Source : Equity Bulls

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