Dalmia Bharat Ltd allots 75 lakh shares to KKR Mauritius Cement Investments Ltd.

In pursuance of the Special Resolution passed by the Members of Dalmia Bharat Ltd in the Extra-ordinary General Meeting of the Company held on February 11, 2016, upon receipt of the "In Principle" listing approvals from the Stock Exchanges and completion of all formalities connected with the Share Subscription and Purchase Agreement dated January 15, 2016 including receipt of approval from the Competition Commission of India for the transaction of acquisition of 15% of the share capital of Dalmia Cement (Bharat) Limited, the Securities Preferential Allotment Committee ("Committee") of the Board of Directors of the Company at their meeting held on March 09, 2016 have allotted 75,00,000 (Seventy five lakh) equity shares of Rs. 2/- (Rupees Two) each of the Company to KKR Mauritius Cement Investments Ltd. for consideration other than cash (share swap), in compliance with the Companies Act, 2013 and the Rules framed thereunder.

Shares of DALMIA BHARAT LTD. was last trading in BSE at Rs.737.5 as compared to the previous close of Rs. 713.5. The total number of shares traded during the day was 947 in over 97 trades.

The stock hit an intraday high of Rs. 737.5 and intraday low of 706.15. The net turnover during the day was Rs. 684323.

Source : Equity Bulls

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