Magma Fincorp Ltd allots 15000 equity shares

The Nomination and Remuneration Committee of the Board of Directors of Magma Fincorp Ltd which have been authorized in this regard has allotted 15,000 Equity Shares of face value of Rs. 2/- each at a price of Rs. 60/- per share (including premium of Rs. 58/- per share) to the eligible employees of the Company under Magma Employee Stock Option Plan 2007 ("the Scheme") through resolution passed by the members of the Committee by circulation on April 26, 2016.

Pursuant to this allotment, the issued, subscribed and paid-up equity share capital of the Company will stand increased to Rs. 47,36,87,344/- (Rupees Forty Seven Crores Thirty Six Lakhs Eighty Seven Thousand and Three Hundred Forty Four only) consisting of 23,68,43,672 Nos. (Twenty Three Crores Sixty Eight Lakhs Forty Three Thousand and Six Hundred Seventy Two) of Equity Shares of Rs. 2/- each.

Shares of MAGMA FINCORP LTD. was last trading in BSE at Rs.91.25 as compared to the previous close of Rs. 91.25. The total number of shares traded during the day was 6714 in over 96 trades.

The stock hit an intraday high of Rs. 92 and intraday low of 89.65. The net turnover during the day was Rs. 611135.

Source : Equity Bulls

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