IOL Chemicals & Pharmaceuticals Ltd allots shars, warrants

The Share Allotment Committee of the Board of Directors of IOL Chemicals & Pharmaceuticals Ltd in its meeting held on July 04, 2014 allotted 11,50,000 equity shares of Rs. 10/- each at a premium of Rs. 18/- per share to the non promoters of the Company which will be locked in for a period of one year from the date of trading approval.

The Board also allotted 1,10,00,000 (One crore ten lac) warrants to the non promoters, carrying an option to the holder of such warrants to subscribe to one equity share of Rs. 10/- at premium of Rs. 18/- per share for every warrant held, within 18 months from the date of allotment of the warrants.

Consequent upon the issue of the above 11,50,000 equity shares, the total paid-up capital of the Company stands increased to 39311591 fully paid equity shares of Rs. 10/- each.

Shares of IOL CHEMICALS & PHARMACEUTICALS LTD. was last trading in BSE at Rs.49.5 as compared to the previous close of Rs. 49.55. The total number of shares traded during the day was 3725 in over 60 trades.

The stock hit an intraday high of Rs. 50.2 and intraday low of 48.15. The net turnover during the day was Rs. 182812.

Source : Equity Bulls

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