APL Apollo Tubes Ltd approves allotment of 11,15,000 shares

The Board of Directors of APL Apollo Tubes Ltd at its meeting held on August 13, 2013, has approved the allotment of 11,15,000 Equity Shares having nominal value of Rs. 10/- each to Mr. Ashok Kumar Gupta, a person considered as a promoter, against the conversion of equal number of outstanding warrants as 15,00,000 warrants were allotted to him on preferential basis at a price of Rs. 145/- per warrant on February 14, 2012 out of which 3,85,000 warrants were converted into equity shares and same was allotted to him on March 23, 2013.

Shares of APL Apollo Tubes Ltd was last trading in BSE at Rs.143, down by Rs.7.85 or 5.20%. The stock hit an intraday high of Rs.153 and low of Rs.142.

The total traded quantity was 830 compared to 2 week average of 5173.

Source : Equity Bulls

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