Monnet Ispat & Energy Ltd allots shares to Vistabrook Ltd

The Special Allotment Committee of Board of Directors of Monnet Ispat & Energy Ltd, in its meeting held on October 30, 2013, has allotted 2094000 equity shares to Vistabrook Ltd. pursuant to the Scheme of Merger of Mounteverest Trading & Investment Ltd. (MTIL) into the Company in the approved ratio of 40 equity shares for the entitlement of every 100 equity shares. There was a total subsisting entitlement of 5235000 equity shares as on the date of merger, i.e. 1308750 equity shares upon conversion of equal number of outstanding FCDs and entitlement of 3926250 bonus shares thereon in the ratio of 3:1.

Shares of Monnet Ispat & Energy Ltd was last trading in BSE at Rs.132.10, up by Rs.1.75 or 1.34%. The stock hit an intraday high of Rs.134.80 and low of Rs.131.

The total traded quantity was 1863 as compared to 2 week average of 3053.

Source : Equity Bulls

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