Apollo Hospitals Enterprise allots 3089242 shares to Promoter

Pursuant to the approval of members at the Extraordinary General Meeting held on May 29, 2010, Apollo Hospitals Enterprise Ltd had issued and allotted 1,544,621 share warrants to Dr. Prathap C. Reddy, one of the promoters of the Company on June 12, 2010, with each warrant convertible Into one equity share of the Company of nominal value of Rs. 10/- each at a price of Rs. 771.76 which Includes premium of Rs. 761.76 per share calculated in accordance with SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2009. The said warrants were convertible into equity shares within a period of 18 months from the date of allotment of warrants i.e., on or before December 11, 2011.

The Company obtained the members approval for effecting a stock split in the face value of the equity shares from Rs. 10/- each to Rs. 5/- each, The stock split was effected from September 03, 2010 onwards.

Pursuant to the terms of the Issue, 1,544,621 warrants allotted to Dr. Prather C. Reddy and the corresponding issue price of Rs. 771.76 stood adjusted accordingly as 3,089,242 warrants of face value of Rs. 5/- each at a price of Rs. 385.88 including premium of Rs. 380.88 per share.

The Share Allotment Committee of the company met on December 10, 2011 and approved the allotment of 3,089,242 equity shares of face value of Rs. 5/- each at a price of Rs. 385.88 per share to Dr. Prathap C. Reddy, promoter of the Company.

Consequent to the above allotment, the paid up share capital of the Company has been increased to Rs. 672,333,090/- (consisting of 134,466,618 equity shares of Rs. 5/- each) from Rs. 656,886,880/- (consisting of 131,377,376 equity shares of Rs. 5/- each).

The Apollo Hospitals stock was trading at Rs.631, up by Rs.3.90 or 0.62%. The stock hit an intraday high of Rs.649 and low of Rs.630.

The total traded quantity was 0.31 lakhs compared to 2 week average of 1.37 lakhs.

Source : Equity Bulls

Keywords