Advik Laboratories Ltd approves allotment of shares, warrants

The Board of Directors of Advik Laboratories Ltd at its meeting held on November 21, 2013, has considered and approved the allotment of 56,75,350 Equity Shares of face value of Rs. 10/- each and 40,82,650 Warrants convertible into equal number of Equity Shares, to the persons belonging to the Promoter and Non-Promoter Category at an issue price of Rs. 10/- per share, in accordance with the provisions of Chapter VII of the SEBI (ICDR) Regulations, 2009.

Pursuant to the aforesaid allotment, the paid-up capital of the Company stands increased from Rs. 9,35,34,000/- to Rs. 15,02,87,500/-.

Shares of Advik Laboratories Ltd was last trading in BSE at Rs.3.52, up by Rs.0.13 or 3.83%. The stock hit an intraday high of Rs.3.51 and low of Rs.3.34.

The total traded quantity was 6 as compared to 2 week average of 1424.

Source : Equity Bulls

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