First Winner Industries approves preferential issue

The Board of Directors of First Winner Industries Ltd at its meeting held on August 31, 2011, has approved proposal to increase of Authorized Share Capital from Rs. 35,00,00,000/- (Rupees Thirty Five Crores only) to Rs. 51,00,00,000/- (Rupees Fifty One Crore only) by creation and addition of 1,60,00,000 (One Crore Sixty Lac) equity shares of Rs. 10 (Rupees Ten only) each aggregating to Rs. 16,00,00,000/- (Rupees Sixteen Crore only) and consequential amendments in the Memorandum & Articles of Association of the Company.

The Board also approved proposal to issue, offer and allot up to 2,50,00,000 (Two Crore Fifty Lac) equity shares to promoters, promoter group, persons acting in concern, domestic/foreign investors, bodies corporate (other than promoter and promoter group) and/or others on preferential basis at a price not less than as per the SEBI (ICDR) Regulations, 2011 as amended up to date.

The stock was trading at Rs.15.29, up by Rs.0.09 or 0.59%. The stock hit an intraday high of Rs.15.85 and low of Rs.15.29.

The total traded quantity was 87 compared to 2 week average of 2324.

Source : Equity Bulls

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