Sarla Performance Fibers Ltd allots 14 lakh shares to QIBs

In respect of the QIP, the Board of Directors of Sarla Performance Fibers Ltd, at its meeting held on October 22, 2014, has allotted 14,00,000 Equity Shares of Rs. 10/- each to eligible Qualified Institutional Buyers pursuant to the provisions of Chapter VIII of SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2009 at the Issue Price of Rs. 333.50/- per Equity Shares (including Rs. 323.50/- towards share premium), against receipt of full payment on application, aggregating Rs. 466.90 million from the applicants.

Consequent to the aforesaid allotment of 14,00,000 Equity Shares of Rs. 10/- each, the paid up share capital of the Company has increased from Rs. 6,95,03,000 divided into 69,50,300 Equity Shares of Rs. 10/- each to Rs. 8,35,03,000 divided into 83,50,300 Equity Shares of Rs. 10/- each.

Shares of SARLA PERFORMANCE FIBERS LTD. was last trading in BSE at Rs.365 as compared to the previous close of Rs. 368.4. The total number of shares traded during the day was 137 in over 12 trades.

The stock hit an intraday high of Rs. 372 and intraday low of 365. The net turnover during the day was Rs. 50632.

Source : Equity Bulls

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