Rexnord Electronics & Controls Ltd allots 12 lakh shares

The Board of Directors of Rexnord Electronics & Controls Ltd at its meeting held on April 11, 2016, has allotted 12,00,000 Fully paid up Equity Shares of face value of Rs. 10/- each at Rs. 24.50/-each (including premium of Rs. 14.50/- each) to promoter and promoter group on conversion of 12,00,000 Warrants held by allottees issued on December 23, 2014, on preferential basis in terms of Chapter VI of SEBI (ICDR) Regulations, 2009.

The meeting commenced at 4.00 p.m and concluded at 4.30 p.m on April 11, 2016.

Shares of REXNORD ELECTRONICS & CONTROLS LTD. was last trading in BSE at Rs.42.5 as compared to the previous close of Rs. 41.5. The total number of shares traded during the day was 10578 in over 50 trades.

The stock hit an intraday high of Rs. 42.5 and intraday low of 40.5. The net turnover during the day was Rs. 439611.

Source : Equity Bulls

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