Uttam Sugar Mills' Promoter Proposes Offer for Sale of Shares through the Stock Exchange Mechanism

One of the promoters of Uttam Sugar Mills Ltd, Uttam Industrial Engineering Ltd. has proposed to sell an aggregate of 7,90,401 equity shares of face value of Rs.10 each of the company to increase public shareholding to meet the minimum public shareholding requirements.

NSE has been designated as Designated Stock Exchange for the offer of sale. The promoter has made the application for offer of sale on July 23, 2012.

The Uttam Sugar Mills Ltd stock closed the day at Rs.28.30, down by Rs.1.30 or 4.39%. The stock hit an intraday high of Rs.29.50 and low of Rs.28.25.

The total traded quantity was 1749 compared to 2 week average of 20004.

Source : Equity Bulls

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