IOL Chemicals allots 5 lakh shares to Innova Marchantlies

The allotment committee of the board of directors of IOL Chemicals and Pharmaceuticals has allotted five lakh equity shares of ₹10 each to Innova Marchantlies, non-promoter, on the exercise of option attached with the warrants allotted on July 4, 2014. The allotted shares will remained locked in for a period of one year from the date of trading approval. The stock of IOL Chemicals closed at ₹57.25, up 2.8 per cent on the NSE.