IOL Chemicals & Pharmaceuticals Ltd said that it has allotted 5,00,000 equity shares to Innova Marchantiles Limited, Non-Promoter.
"The Allotment Committee of the Board of Directors in its meeting held on August 05, 2015, has allotted 5,00,000 equity shares of Rs. 10/- each to M/s. Innova Marchantiles Limited, Non-Promoter on the exercise of option attached with the warrants allotted on July 04, 2014," the company said in a filing to the Bombay Stock Exchange.
The said shares shall be remain locked in for a period of one year from the date of trading approval, the filing added.
Consequent upon the issue of the above 5,00,000 equity shares, the total paid-up capital of the Company stands increased to 5,09,55,502 fully paid equity shares of Rs.10/- each.
Meanwhile, shares of the company were trading at Rs 101.30 a piece, down 1.65 per cent from the previous close at 10:05 hours on BSE.