Hindalco Industries allots 15,00,00,000 equity shares against conversion of warrants to Promoter Group Companies

The Board of Directors of Hindalco Industries Ltd had allotted 15,00,00,000 warrants on preferential basis on March 22, 2012 to Promoter Group Companies at Rs. 144.35 per share. As per the SEBI regulation, the promoters had paid 25% of the purchase price at the time of allotment of warrants.

The promoters have exercised the warrants and paid the balance 75% of the purchase price. The committee of the Board in its meeting held on September 20, 2013 has allotted 15,00,00,000 equity shares of Rs. 1 each at a premium of Rs. 143.35 against conversion of warrants to Promoter Group Companies.

The allottees include IGH Holdings Private Limited (12,10,00,000 shares), Turquoise Investments and Finance Private Limited (2,50,00,000 shares), TGS Investment and Trade Private Limited (39,00,000 shares) and Umang Commercial Company Limited (1,00,000 shares).

Shares of Hindalco Industries Ltd was last trading in BSE at Rs.114, down by Rs.0.25 over its previous close of Rs.114.25. The stock hit an intraday high of Rs.114 and low of Rs.114.

The total traded quantity was 425 and the turnover was Rs.0.48 lakhs.

Source : Equity Bulls

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