Rajshree Sugars & Chemicals Ltd allots shares to promoters

The Board of Directors of Rajshree Sugars & Chemicals Ltd at its meeting held on April 29, 2016, have allotted the equity shares to the promoters of the company.

17,66,429 equity shares at a price of Rs.28/- each (including a premium of Rs.18/-) were allotted to Ms.Rajshree Pathy, Chairperson and Managing Director and 14,28,571 equity shares at a price of Rs.28/- each (including a premium of Rs.18/-) to M/s.RSCL Properties Private Limited.

The aforesaid shares are allotted by converting the unsecured loan of Rs.4,94,60,000/- brought-in by Ms.Rajshree Pathy and Rs.4,00,00,000/- brought-in by M/s.RSCL Properties Private Limited, as promoters' contribution under the Corporate Debt Restructuring Scheme.

The shares allotted shall rank pari passu, in all respects, with the existing equity shares of the Company.

Shares of RAJSHREE SUGARS & CHEMICALS LTD. was last trading in BSE at Rs.46 as compared to the previous close of Rs. 43. The total number of shares traded during the day was 17872 in over 224 trades.

The stock hit an intraday high of Rs. 47 and intraday low of 43.25. The net turnover during the day was Rs. 807408.

Source : Equity Bulls

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