Time Technoplast Ltd allots 16,029,000 shares

The meeting of the Committee of Directors of Time Technoplast Ltd held on January 20, 2017 to considered and approved, allotment of 16,029,000 Equity shares ("Issue Shares") of Re. 1 each, on a preferential basis for cash at a price of Rs. 93.58/- (Rupees Ninety Three and Fifty Eight Paisa Only) per Issue Share aggregating upto Rs. 149,99,93,820/- (Rupees One Hundred Forty Nine Crore Ninety Nine Lakh Ninety Three Thousand Eight Hundred Twenty Only), including premium of Rs. 92.58/- (Rupees Ninety Two and Fifty Eight Paisa Only) per Issue Share, to the below mentioned proposed non-promoters allottee ("Investor") in accordance with the provisions of the Chapter VII of Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2009 as amended and Sections 42 and 62 of the Companies Act, 2013 and rules thereto ("Preferential Issue").

Shares of TIME TECHNOPLAST LTD. was last trading in BSE at Rs.89.15 as compared to the previous close of Rs. 91.65. The total number of shares traded during the day was 37612 in over 423 trades.

The stock hit an intraday high of Rs. 91.2 and intraday low of 88.15. The net turnover during the day was Rs. 3369444.

Source : Equity Bulls

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