Supreme Tex Mart to consider preferential allotment for 15% voting rights

India Infoline News Service | Mumbai | September 20, 201610:34 IST

The Board of Directors of the Company is scheduled to be held on September 20, 2016, inter alia, to consider the Proposal from KTE Exports PTE LTD, Singapore for acquisition of 24% for USD 10 Million holding in the company.

Stock Market
Supreme Tex Mart Ltd has informed BSE that the meeting of the Board of Directors of the Company is scheduled to be held on September 20, 2016, inter alia, to consider the Proposal from KTE Exports PTE LTD, Singapore for acquisition of 24% for USD 10 Million holding in the company:

a. By way Of Preferential allotment for 15% voting rights in Equity Shares.

b. Remaining from the open market purchase at prevailing rates.

Further, pursuant to SEBI (Prohibition of Insider Trading) Regulation, 2015 and company code for "Prohibition of Insider Trading", the Trading Window for dealing in securities of the Company is closed from September 06, 2016 till the expiry of 48 hours from the conclusion of the Board Meeting to, be held on September 20, 2016.

Supreme Tex Mart Ltd is currently trading at Rs. 7.04, down by Rs. 0.37 or 4.99% from its previous closing of Rs. 7.41 on the BSE.

The scrip opened at Rs. 7.04 and has touched a high and low of Rs. 7.4 and Rs. 7.04 respectively. So far 470792 (NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 50.57 crore.

The BSE group 'T' stock of face value Rs. 5 has touched a 52 week high of Rs. 13.23 on 11-Jan-2016 and a 52 week low of Rs. 2.91 on 03-Mar-2016. Last one week high and low of the scrip stood at Rs. 8.64 and Rs. 7.41 respectively.

The promoters holding in the company stood at 58.41 % while Institutions and Non-Institutions held 0 % and 41.59 % respectively.

The stock is currently trading below its 50 DMA.

***Note: This is a NSE Chart

 

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