Nitco Ltd allots 22099206 Equity Shares on preferential basis pursuant to CDR Scheme

Pursuant to the terms of the Master Restructuring Agreement dated March 06, 2013 and after obtaining, shareholder's approval under section 81(1A) of the Companies Act, 1956, the Board of Directors of Nitco Ltd at its meeting held on December 20, 2013, has allotted 22099206 equity shares of Rs. 10/- each at an issue price of Rs. 25.20/- each on a preferential basis to M/s. Aurella Estates and Investments Private Limited.

The allotment is subject to the lock-in requirements as per the SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2009 with regard to the Preferential Issue.

Shares of Nitco Ltd was last trading BSE at Rs.13.64, down by Rs.0.07 or 0.51%. The stock hit an intraday high of Rs.13.80 and intraday low of Rs.13.40.

The total traded quantity was 7500 shares as compared to 2 week average of 5350 shares.

Source : Equity Bulls

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