Lakshmi Overseas Industries allots 33 lakh shares

The Board of Directors of Lakshmi Overseas Industries Ltd at its meeting held on July 05, 2013, has allotted 33,00,000 equity shares of Rs. 2/- each at a premium of Rs.20/- per share to Mr. Balbir Singh Uppal (an entity belonging to the Promoters' Group) on conversion of 33,00,000 Convertible Warrants of Series-1 issued/allotted to him by the Company on April 22, 2013 as per inprinciple approvals of Stock Exchanges.

Shares of Lakshmi Overseas Industries Ltd was last trading in BSE at Rs.36.45, up by Rs.0.20 or 0.55%. The stock hit an intraday high of Rs.37.90 and low of Rs.35.50.

The total traded quantity was 0.18 lakhs compared to 2 week average of 0.62 lakhs.

Source : Equity Bulls

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