Aksharchem India Ltd approves allotment of 889690 shares

The QIP Committee of the board of directors of Aksharchem India Ltd has, at its meeting held today i.e. July 20, 2017, approved the QIP and allotment of 8,89,690 Equity Shares to eligible qualified institutional buyers at the issue price of Rs. 776.00 per Equity Share, aggregating to approximately Rs. 69,03,99,440/- under the SEBI Regulations and Section 42 of the Companies Act, 2013 (including the rules made thereunder).

Pursuant to the allotment of Equity Shares in the QIP, the paid-up equity share capital of the Company stands increased to Rs. 8,20,25,900/- comprising 82,02,590 equity shares of face value of Rs. 10 each.

Shares of AKSHARCHEM (INDIA) LTD.-$ was last trading in BSE at Rs.866.75 as compared to the previous close of Rs. 820.6. The total number of shares traded during the day was 13480 in over 637 trades.

The stock hit an intraday high of Rs. 877 and intraday low of 809.2. The net turnover during the day was Rs. 11184222.

Source : Equity Bulls

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