Magma Fincorp Ltd allots 136075 equity shares

The Nomination and Remuneration Committee of the Board of Directors of Magma Fincorp Ltd which has been authorised in this regard has allotted 136075 Equity Shares of face value of Rs. 2/- each at a price of Rs. 36/- per share (including a premium of Rs. 34/- per share) and 75000 Equity Shares of face value of Rs. 2/- each at a price of Rs. 60/- per share (including a premium of Rs. 58/- per share) to the eligible employees under Magma Employee Stock Option Plan 2007 ("the Scheme") vide resolution passed by circulation on July 30, 2014.

Pursuant to this allotment, the issued, subscribed and paid-up equity share capital of the Company stands increased to Rs. 38,06,62,100/- (Rupees Thirty Eight Crores Six Lakhs Sixty Two Thousand and One Hundred only) consisting of 19,03,31,050 Nos. Equity Shares (Nineteen Crores Three Lakhs Thirty One Thousand and Fifty) of face value of Rs. 2/- each.

Shares of MAGMA FINCORP LTD. was last trading in BSE at Rs.94.05 as compared to the previous close of Rs. 98.25. The total number of shares traded during the day was 19656 in over 441 trades.

The stock hit an intraday high of Rs. 98.1 and intraday low of 93.8. The net turnover during the day was Rs. 1879407.

Source : Equity Bulls

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