The board of directors of Electrosteel Steels on Thursday approved preferential allotment of 52.30 lakh shares of ₹10 each (aggregating ₹5.23 crore) to Electrosteel Castings, the promoter company. The allotment to the promoter group was under corporate debt restructuring scheme. The allotment is, however, subject to shareholders and regulators' approval. The stock of Electrosteel Steels tumbled 2.27 per cent to ₹4.77 on the BSE.
The allotment committee of board of directors of IOL Chemicals and Pharmaceuticals on Thursday allotted 7 lakh equity shares of ₹10 each to Innova Marchantiles Ltd, non-promoter. The shares were allotted on the exercise of option attached with the warrants allotted on July 4. Consequently, the total paid-up capital of the company stands increased to 4.001 crore fully paid equity shares of ₹10 each. Shares of IOL Chemicals jumped 10 per cent at ₹73.25 on the NSE.
Dynacons Technologies Ltd has informed the exchanges that it on Friday signed a global outline agreement with BELL Helicopter, a Textron Inc company, as a single source supplier of major airframe assemblies for the BELL 407 GX. The estimated business volume of the agreement is approximately $90 million (about ₹550 crore) over seven years with options to extend through the life of the product. Shares of Dyancons Technologies closed flat at ₹2.90 on the NSE.
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