S. Kumars Nationwide Ltd allots 12425000 shares

The Promoter Group Company of S. Kumars Nationwide Ltd, Sansar Exim Private Limited, holder of 1,24,25,000 nos. of Equity Share Warrants allotted on preferential basis and issued on June 15, 2010, have exercised their right to convert the said warrants into 1,24,25,000 nos. of equity shares of Rs. 10/- each @ premium of Rs. 53.54.

Accordingly, the Company's Committee of Directors have considered, approved and allotted 1,24,25,000 nos. of equity shares to Promoter Group Company, Sansar Exim Private Limited in their meeting held on December 13, 2011.

The S. Kumars Nationwide Ltd stock was trading at Rs.29.65, down by Rs.0.25 or 0.84%. The stock hit an intraday high of Rs.31.30 and low of Rs.28.65.

The total traded quantity was 6.37 lakhs compared to 2 week average of 3.13 lakhs.

Source : Equity Bulls

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