Eastern Sugar & Industries Ltd allots shares on preferential basis

The Board of Directors of Eastern Sugar & Industries Ltd at its meeting held on September 16, 2014, has allotted 70,00,000 Equity Shares of Rs. 10/- each at par on preferential basis, as approved by the Shareholders of the Company at their meeting held on October 03, 2013 and in-principle approval for which was given by the Bombay Stock Exchange on September 04, 2014.

The Board has allotted 52,50,000 Equity Shares of Rs. 10/- each at par on preferential allotment basis, by way of conversion of existing 5,25,000 Preference Shares of Rs. 100/- each, as approved by Shareholders of the Company at their meeting held on October 03, 2013 and in-principle approval for which was given by the Bombay Stock Exchange on September 04, 2014.

The Board also appointed Mrs. Ratna Vaswani as Additional Director of the Company.

Shares of EASTERN SUGAR & INDUSTRIES LTD. was last trading in BSE at Rs.1.77 as compared to the previous close of Rs. 1.78. The total number of shares traded during the day was 143393 in over 155 trades.

The stock hit an intraday high of Rs. 1.86 and intraday low of 1.72. The net turnover during the day was Rs. 264237.

Source : Equity Bulls

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