IOL Chemicals & Pharmaceuticals Ltd said that it has allotted 5,00,000 equity shares to Innova Marchantiles Limited.
The shares have been allotted 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, it added.
Consequent upon the issue of the above 5,00,000 equity shares, the total paid-up capital of the company stands increased to 5,19,55,502 fully paid equity shares of Rs.10 each.
Meanwhile, shares of the company were trading at Rs 72.60 a piece, down 4.6 per cent from the previous close at 9:58 hours on BSE.