Shalimar Wires Industries Ltd allots 59,50,000 shares to ARCIL

In terms of Rehabilitation Scheme sanctioned by BIFR vide its order dated June 10, 2013, Shalimar Wires Industries Ltd is required to issue 59,50,000 Equity Shares of Rs. 2/- each to Asset Reconstruction Company (India) Limited (ARCIL) on post equity infusion and post restructuring of Equity Capital by way of conversion of remaining principal.

Accordingly, the Board of Directors at its meeting held on August 06, 2013 have issued and allotted 59,50,000 equity shares of Rs. 2/- each amounting to Rs. 119 lacs to Asset Reconstruction Company (India) Limited (ARCIL) on post equity infusion and post restructuring of Equity Capital by way of conversion of remaining principal.

Shares of Shalimar Wires Industries Ltd was last trading in BSE at Rs.6. The stock hit an intraday high of Rs.6 and low of Rs.6.

The total traded quantity was 26 compared to 2 week average of 26.

Source : Equity Bulls

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