Hindustan Motors Ltd allots 11800000 Equity Shares on conversion of Warrants

The Special Committee of Directors of Hindustan Motors Ltd at its meeting held on June 19, 2012 has allotted 1,18,00,000 Equity Shares of Rs. 5/- each at a premium of Rs. 7.25 per Equity Share to the following Promoter/Promoter Group Companies who have exercised the option of conversion of 1,18,00,000 Warrants allotted on preferential basis to them.

Amer Investments (Delhi) Limited have been allotted 54,00,000 equity shares and Central India Industries Limited have been allotted 64,00,000 equity shares. These new Equity Shares shall rank pari passu with the existing Equity Shares of the Company.

Consequent to the allotment of the Equity Shares as aforesaid, the Paid-up Equity Share Capital of the Company stands increased to Rs. 92,38,59,965/- divided into 18,47,71,993 Equity Shares of the Face Value of Rs. 5/- each.

The Hindustan Motors Ltd stock was trading at Rs.8.43, up by Rs.0.10 or 1.20%. The stock hit an intraday high of Rs.9.20 and low of Rs.8.05.

The total traded quantity was 1.33 lakhs compared to 2 week average of 0.32 lakhs.

Source : Equity Bulls

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