Metalyst Forgings Ltd allots 4 lakh shares

The Allotment Committee of Board of Directors of Metalyst Forgings Ltd in their meeting held today i.e. 03rd April, 2017 has allotted 4,00,000 Equity Shares of face value of Rs. 10/- each, at a price of Rs. 100/- per share including premium of Rs. 90/- per Equity Share, aggregating to Rs. 4,00,00,000 to the Promoter group Company i.e. M/s Amtek Auto Limited by way of preferential allotment.

Further, the Allotment Committee has also allotted 24,00,000 Equity Shares upon conversion of Warrants into equivalent number of Equity shares of Rs. 10/- each, at a premium of Rs. 90/-aggregating to Rs. 24,00,00,000 to the Promoter group Company i.e. M/s Amtek Auto Limited by way of preferential allotment.

Further, the Convertible warrants issued by the company are exercised by the allottees within the currency period of warrants which were allotted on 31st March, 2017 in terms of Chapter VII of the SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2009.

Shares of Metalyst FORGINGS LTD. was last trading in BSE at Rs.56.9 as compared to the previous close of Rs. 56.2. The total number of shares traded during the day was 28351 in over 312 trades.

The stock hit an intraday high of Rs. 58 and intraday low of 56.5. The net turnover during the day was Rs. 1619352.

Source : Equity Bulls

Keywords