Kinetic Motor allots 15,00,000 shares to Citicorp Finance

Kinetic Motor Company Ltd has announced that the Company on August 02, 2007 made allotment of 15,00,000 Equity Shares of Rs 10/- each at a premium of Rs 55/- per Equity share to Citicorp Finance (India) Ltd upon conversion of 15,00,000 Fully Convertible Debentures issue on them on August 03, 2006.

The stock closed the day at Rs.27.50, down by Rs.0.80 or 2.83%. The stock hit an intraday high of Rs.28 and low of Rs.26.90. The total traded quantity was 1489 compared to 2 week average of 2987.

Source : Equity Bulls

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