ABG Shipyard Ltd allots 80730937 shares

The Security Issue Committee of the Board of Directors of ABG Shipyard Ltd has, at its meeting held on March 26, 2015, have allotted 8,07,30,937 (Eight Crores Seven Lacs Thirty Thousand Nine Hundred and Thirty Seven) Nos. of 0.01% Compulsorily Convertible Preference Shares of Rs. 10/- (Rupees Ten Only) each at Par value to the CDR Lenders as per CDR Package on preferential basis under Chapter VII - "Preferential Issue" of Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2009.

The said allotment of 8,07,30,937 (Eight Crores Seven Lacs Thirty Thousand Nine Hundred and Thirty Seven) Nos. of 0.01% Compulsorily Convertible Preference Shares of Rs. 10/- (Rupees Ten Only) each shall be fully paid-up at the time of allotment and shall be subject to the lock-in for such period as may be prescribed under the SEBI ICDR Regulations.

Shares of ABG SHIPYARD LTD. was last trading in BSE at Rs.203.2 as compared to the previous close of Rs. 189.75. The total number of shares traded during the day was 189371 in over 4885 trades.

The stock hit an intraday high of Rs. 204.7 and intraday low of 190.65. The net turnover during the day was Rs. 37281747.

Source : Equity Bulls

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