Hatsun Agro Product Ltd to allot shares at Rs. 300

The Board of Directors of Hatsun Agro Product Ltd at its meeting held on September 23, 2014, has approved the issue and allotment of such number of equity shares of Re.1 /- each fully paid-up, at Rs. 300/- per share (including a premium of Rs. 299/- per share) or at the price determined in accordance with SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2009, whichever is higher, by way of preferential allotment in one or more tranches to the persons / entities, belonging to Non-Promoter Group on cash basis for an aggregate consideration of up to Rs. 30,00,00,000/- (Rupees Thirty Crores only), subject to the approval of the shareholders through Postal Ballot.

The Board approved the Draft Notice of Postal Ballot to be sent to the shareholders for passing of the Special Resolution for the above mentioned Preferential Issue of Equity Shares to Non-Promoter Group and appointment of scrutinizer for conducting postal ballot in a fair and transparent manner.

The Board approved the calendar of Events for postal ballot and gave its aApproval for sending notice of postal ballot to all eligible shareholders of the Company as on September 19, 2014. (Cut-off date as September 19, 2014).

Shares of HATSUN AGRO PRODUCT LTD. was last trading in BSE at Rs.327.3 as compared to the previous close of Rs. 329.2. The total number of shares traded during the day was 2534 in over 267 trades.

The stock hit an intraday high of Rs. 332 and intraday low of 321.25. The net turnover during the day was Rs. 829857.

Source : Equity Bulls

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