Silverline Technologies Limited allots 9,59,42,000 shares on preferential basis

The Board of Directors of Silverline Technologies Limited have approved the allotment of 9,59,42,000 (Rupees Nine Crores Fifty Nine Lakhs Forty Two Thousand Only) equity shares at a Face Value of Rs.10 each on preferential basis to the Non-Promoters allotees.

The new equity shares so allotted, shall rank pari passu with the existing equity shares of the Company.

The Initial offer for preferential issue of Equity Shares was made to Eight Allottees. Out of Eight, Six Allottees subscribed to the offer and made full payment of allotment money into Escrow account. Rest Two Allottees Mr. Milind Patil and Ms. Neeta Mehta did not accept the offer.

Post allotment of the aforesaid shares, the paid up capital of the Company has increased from Rs. 59,98,54,880/- (5,99,85,488 equity shares of face value of Rs.10/- each fully paid up) to Rs.1,55,92,74,880 (15,59,27,488) equity shares of face value of Rs.10/- each fully paid up).

The Company has received the issue price per equity shares i.e. Rs.10/- (Rupees Ten only) issued at the face value as total consideration to Rs.95,94,20,000/- (Rupees Ninety Five Crores Ninety Four Lakhs Twenty Thousand Only) for allotment of 9,59,42,000 equity shares as per the terms of the issue.

Shares of Silverline Technologies Limited was last trading in BSE at Rs. 24.90 as compared to the previous close of Rs. 24.42. The total number of shares traded during the day was 62808 in over 145 trades.

The stock hit an intraday high of Rs. 24.90 and intraday low of 24.90. The net turnover during the day was Rs. 1563919.00.

Source : Equity Bulls

Keywords

INE368A01021 SilverlineTechnologies SoftwareProducts FundRaising PreferentialIssue