Vulcan Engineers Ltd approves allotment of 1310000 shares to SIMEST

The Board of Directors of Vulcan Engineers Ltd had its meeting held on October 10, 2011 has approved the allotment of 13,10,000 Equity Shares of Rs. 10.00 each at a premium of Rs. 36.50 per equity share on preferential basis to Societa Italiana Per le Imprese All' Estero - SIMEST SpA ('SIMEST') subject to lock-in-period of one year from the date of allotment as per the SEBI (ICDR) Regulations. The said Equity Shares will rank pari-passu in all respect with the existing Equity Shares of the Company.

The Paid-Up Equity Share capital of the Company post allotment is 95,00,000 Equity Shares of Rs. 10.00 each aggregating to Rs. 9,50,00,000/-.

The stock closed the day at Rs.28.10, up by Rs.1.30 or 4.85%. The stock hit an intraday high of Rs.29 and low of Rs.26.25.

The total traded quantity was 3715 compared to 2 week average of 2730.

Source : Equity Bulls

Keywords