Shalimar Paints Ltd allots 3,11,43,042 shares on rights basis

Pursuant to the approval received for finalizing the basis of allotment of the Rights Issue from BSE Limited (Designated Stock Exchange) on January 04, 2019, the Rights Issue Committee of Shalimar Paints Ltd in their meeting held today i.e., January 04, 2019 has approved the allottment of 3,11,43,042 Equity Shares of face value of Rs. 2/- each issued at a price of Rs. 64.50/- per share (including premium of Rs.62.50 per share) aggregating to Rs. 20087.26 Lakhs on rights basis to the successful allottees.

The Rights Issue was opened from December 3, 2018 to December 24, 2018.

The company will be approaching BSE and NSE with detailed Listing Application for listing of 3,11,43,042 Equity Shares within due course of time.

Pursuant to above, the Issued and paid-up share capital of the Company stands increased from Rs. 449.97 Lacs comprising of 2,24,98,345 Equity Shares of Rs. 2 each to Rs.1072.83 Lacs comprising of 53641387 Equity shares of Rs. 2/- each.

Shares of SHALIMAR PAINTS LTD. was last trading in BSE at Rs.71.65 as compared to the previous close of Rs. 72.3. The total number of shares traded during the day was 2704 in over 55 trades.

The stock hit an intraday high of Rs. 73.2 and intraday low of 71.3. The net turnover during the day was Rs. 194677.

Source : Equity Bulls

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